Investors Purchase Large Volume of New Oriental Education & Technology Group Put Options (NYSE:EDU)

New Oriental Education & Technology Group Inc. (NYSE:EDU) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 1,855 put options on the stock. This represents an increase of 115% compared to the average daily volume of 862 put options.

Hedge Funds Weigh In On New Oriental Education & Technology Group

Hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in 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 last quarter. Blue Trust Inc. lifted its holdings in shares of New Oriental Education & Technology Group by 155.5% in the 3rd quarter. Blue Trust Inc. now owns 2,052 shares of the company’s stock worth $160,000 after acquiring an additional 1,249 shares during the last quarter. Hancock Whitney Corp acquired a new position in New Oriental Education & Technology Group during the second quarter worth $212,000. SG Americas Securities LLC acquired a new position in New Oriental Education & Technology Group during the 4th quarter worth about $272,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in New Oriental Education & Technology Group during the 3rd quarter worth approximately $297,000.

New Oriental Education & Technology Group Trading Down 1.1 %

Shares of EDU stock opened at $46.22 on Thursday. The stock has a market cap of $7.84 billion, a P/E ratio of 19.75 and a beta of 0.44. The stock has a 50 day moving average of $60.38 and a 200 day moving average of $65.06. New Oriental Education & Technology Group has a twelve month low of $44.46 and a twelve month high of $98.20.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $50.00 in a report on Wednesday. Macquarie downgraded New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and reduced their price target for the stock from $79.00 to $44.00 in a research report on Wednesday. Morgan Stanley downgraded 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. Finally, StockNews.com upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, New Oriental Education & Technology Group currently has an average rating of “Hold” and a consensus price target of $72.40.

New Oriental Education & Technology Group Company 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.