IvyRock Asset Management HK Ltd Has $6.93 Million Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

IvyRock Asset Management HK Ltd decreased its holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 6.5% in the fourth quarter, Holdings Channel reports. The fund owned 108,000 shares of the company’s stock after selling 7,500 shares during the quarter. New Oriental Education & Technology Group makes up 3.1% of IvyRock Asset Management HK Ltd’s holdings, making the stock its 9th biggest holding. IvyRock Asset Management HK Ltd’s holdings in New Oriental Education & Technology Group were worth $6,931,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Aspex Management HK Ltd lifted its holdings in shares of New Oriental Education & Technology Group by 46.7% in the 3rd quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company’s stock worth $360,493,000 after acquiring an additional 1,513,640 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in New Oriental Education & Technology Group by 20,215.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company’s stock worth $75,418,000 after purchasing an additional 989,536 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of New Oriental Education & Technology Group by 192.2% during the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock valued at $62,703,000 after buying an additional 543,810 shares during the period. Panview Capital Ltd purchased a new position in shares of New Oriental Education & Technology Group during the fourth quarter valued at approximately $27,358,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of New Oriental Education & Technology Group during the third quarter valued at approximately $27,425,000.

New Oriental Education & Technology Group Stock Performance

New Oriental Education & Technology Group stock opened at $47.49 on Tuesday. New Oriental Education & Technology Group Inc. has a fifty-two week low of $44.46 and a fifty-two week high of $92.50. The company has a market cap of $8.06 billion, a PE ratio of 20.21 and a beta of 0.47. The business’s 50-day simple moving average is $50.57 and its two-hundred day simple moving average is $59.10.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. StockNews.com cut New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, March 13th. China Renaissance downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $50.00 in a research note on Wednesday, January 22nd. Macquarie lowered New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and lowered their price target for the company from $79.00 to $44.00 in a report on Wednesday, January 22nd. Finally, Morgan Stanley downgraded New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $61.20.

About New Oriental Education & Technology Group

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.