Green Court Capital Management Ltd Makes New $21.15 Million Investment in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Green Court Capital Management Ltd acquired a new position in New Oriental Education & Technology Group Inc. (NYSE:EDU) in the 4th quarter, HoldingsChannel reports. The fund acquired 329,574 shares of the company’s stock, valued at approximately $21,152,000. New Oriental Education & Technology Group accounts for about 14.0% of Green Court Capital Management Ltd’s holdings, making the stock its 3rd biggest position.

Several other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of New Oriental Education & Technology Group by 14.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock worth $126,000 after acquiring an additional 206 shares during the period. Blue Trust Inc. increased its position in shares of New Oriental Education & Technology Group by 37.8% during the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock worth $181,000 after acquiring an additional 775 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of New Oriental Education & Technology Group during the fourth quarter worth approximately $51,000. ABS Direct Equity Fund LLC increased its position in shares of New Oriental Education & Technology Group by 17.5% during the third quarter. ABS Direct Equity Fund LLC now owns 7,400 shares of the company’s stock worth $561,000 after acquiring an additional 1,100 shares during the period. Finally, Hancock Whitney Corp increased its holdings in New Oriental Education & Technology Group by 49.4% during the third quarter. Hancock Whitney Corp now owns 4,075 shares of the company’s stock valued at $309,000 after buying an additional 1,348 shares during the period.

New Oriental Education & Technology Group Trading Up 2.8 %

NYSE EDU opened at $48.09 on Friday. The firm’s fifty day simple moving average is $54.97 and its two-hundred day simple moving average is $60.95. New Oriental Education & Technology Group Inc. has a 12-month low of $44.46 and a 12-month high of $98.20. The firm has a market capitalization of $8.16 billion, a P/E ratio of 20.46 and a beta of 0.42.

Wall Street Analyst Weigh In

EDU has been the topic of several research reports. JPMorgan Chase & Co. lowered shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $50.00 in a report on Wednesday, January 22nd. Macquarie lowered shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and cut their price objective for the company from $79.00 to $44.00 in a report on Wednesday, January 22nd. Citigroup lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $83.00 to $50.00 in a report on Friday, January 24th. Finally, Morgan Stanley lowered shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $83.00 to $52.00 in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, New Oriental Education & Technology Group presently has a consensus rating of “Hold” and a consensus price target of $61.20.

New Oriental Education & Technology Group Profile

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.