Barclays PLC Lowers Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Barclays PLC reduced its position in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 99.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,121 shares of the company’s stock after selling 112,259 shares during the quarter. Barclays PLC’s holdings in New Oriental Education & Technology Group were worth $85,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter worth approximately $50,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in New Oriental Education & Technology Group by 14.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock worth $126,000 after buying an additional 206 shares in the last quarter. Blue Trust Inc. lifted its holdings in New Oriental Education & Technology Group by 155.5% during the third quarter. Blue Trust Inc. now owns 2,052 shares of the company’s stock worth $160,000 after buying an additional 1,249 shares during the period. Hancock Whitney Corp bought a new stake in New Oriental Education & Technology Group during the 2nd quarter valued at $212,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of New Oriental Education & Technology Group in the 3rd quarter valued at $297,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. StockNews.com upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Morgan Stanley set a $83.00 target price on shares of New Oriental Education & Technology Group in a report on Thursday, October 17th.

New Oriental Education & Technology Group Trading Up 0.3 %

Shares of EDU stock opened at $63.68 on Thursday. The company has a market cap of $10.81 billion, a PE ratio of 27.21 and a beta of 0.44. New Oriental Education & Technology Group Inc. has a 12-month low of $54.00 and a 12-month high of $98.20. The business’s fifty day simple moving average is $60.95 and its 200-day simple moving average is $66.54.

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

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.