Millennium Management LLC Buys 436,098 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Millennium Management LLC lifted its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 147.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 731,758 shares of the company’s stock after buying an additional 436,098 shares during the quarter. Millennium Management LLC owned approximately 0.43% of New Oriental Education & Technology Group worth $56,880,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. US Bancorp DE boosted its holdings in shares of New Oriental Education & Technology Group by 23.0% during the 4th quarter. US Bancorp DE now owns 11,379 shares of the company’s stock valued at $834,000 after purchasing an additional 2,126 shares during the last quarter. Hsbc Holdings PLC grew its position in New Oriental Education & Technology Group by 3.4% in the 4th quarter. Hsbc Holdings PLC now owns 96,437 shares of the company’s stock valued at $7,113,000 after acquiring an additional 3,197 shares during the last quarter. Carmignac Gestion increased its stake in New Oriental Education & Technology Group by 2,689.2% in the fourth quarter. Carmignac Gestion now owns 53,803 shares of the company’s stock worth $3,943,000 after purchasing an additional 51,874 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of New Oriental Education & Technology Group by 37.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,374,408 shares of the company’s stock worth $173,997,000 after purchasing an additional 646,122 shares during the last quarter. Finally, CenterBook Partners LP purchased a new stake in shares of New Oriental Education & Technology Group during the fourth quarter valued at $471,000.

New Oriental Education & Technology Group Trading Up 3.2 %

Shares of EDU stock opened at $75.84 on Tuesday. New Oriental Education & Technology Group Inc. has a twelve month low of $57.21 and a twelve month high of $98.20. The stock has a fifty day simple moving average of $65.77 and a two-hundred day simple moving average of $76.11. The stock has a market capitalization of $12.87 billion, a price-to-earnings ratio of 40.77 and a beta of 0.46.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.19). The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. New Oriental Education & Technology Group had a return on equity of 7.50% and a net margin of 7.18%. Research analysts predict that New Oriental Education & Technology Group Inc. will post 2.83 EPS for the current fiscal year.

New Oriental Education & Technology Group Dividend Announcement

The firm also recently disclosed a — dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were paid a $0.58 dividend. The ex-dividend date of this dividend was Monday, September 9th.

Analyst Upgrades and Downgrades

Separately, Citigroup decreased their price objective on shares of New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.67.

New Oriental Education & Technology Group Profile

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.