JPMorgan Chase & Co. Purchases 543,810 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

JPMorgan Chase & Co. increased its position in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 192.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 826,783 shares of the company’s stock after buying an additional 543,810 shares during the quarter. JPMorgan Chase & Co. owned 0.49% of New Oriental Education & Technology Group worth $62,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. ABS Direct Equity Fund LLC lifted its holdings in shares of New Oriental Education & Technology Group by 17.5% in the 3rd 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 last quarter. Public Employees Retirement System of Ohio bought a new stake in New Oriental Education & Technology Group in the third quarter worth $27,425,000. XTX Topco Ltd purchased a new stake in New Oriental Education & Technology Group during the third quarter valued at about $1,860,000. Janus Henderson Group PLC grew its stake in shares of New Oriental Education & Technology Group by 11.9% during the third quarter. Janus Henderson Group PLC now owns 30,895 shares of the company’s stock valued at $2,342,000 after buying an additional 3,287 shares during the last quarter. Finally, Centiva Capital LP purchased a new position in shares of New Oriental Education & Technology Group in the third quarter worth about $1,261,000.

Wall Street Analysts Forecast Growth

EDU has been the topic of several recent research reports. StockNews.com upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a research note on Thursday, October 17th.

New Oriental Education & Technology Group Price Performance

Shares of NYSE:EDU opened at $62.63 on Friday. New Oriental Education & Technology Group Inc. has a 1 year low of $54.00 and a 1 year high of $98.20. The stock’s 50-day moving average is $60.94 and its 200 day moving average is $66.77. The company has a market cap of $10.63 billion, a PE ratio of 26.77 and a beta of 0.46.

New Oriental Education & Technology Group (NYSE:EDU) last posted its earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.27. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The business’s revenue was up 30.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.99 earnings per share. Analysts expect that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.

About New Oriental Education & Technology Group

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.