SG Americas Securities LLC Buys Shares of 4,244 New Oriental Education & Technology Group Inc. (NYSE:EDU)

SG Americas Securities LLC purchased a new position in New Oriental Education & Technology Group Inc. (NYSE:EDU) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,244 shares of the company’s stock, valued at approximately $272,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 valued at $126,000 after buying an additional 206 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of 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 valued at $160,000 after acquiring an additional 1,249 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of New Oriental Education & Technology Group in the 3rd quarter worth about $297,000. Hancock Whitney Corp boosted its stake in New Oriental Education & Technology Group by 49.4% in the 3rd quarter. Hancock Whitney Corp now owns 4,075 shares of the company’s stock worth $309,000 after purchasing an additional 1,348 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in New Oriental Education & Technology Group during the 3rd quarter valued at about $316,000.

New Oriental Education & Technology Group Trading Down 2.3 %

NYSE:EDU opened at $47.30 on Thursday. The company has a market cap of $8.03 billion, a PE ratio of 20.13 and a beta of 0.42. The company has a 50 day simple moving average of $58.56 and a two-hundred day simple moving average of $63.10. New Oriental Education & Technology Group Inc. has a 12 month low of $44.46 and a 12 month high of $98.20.

Analysts Set New Price Targets

EDU has been the subject of several recent analyst reports. Citigroup cut shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $83.00 to $50.00 in a report on Friday, January 24th. StockNews.com upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. downgraded New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and cut their target price for the company from $85.00 to $50.00 in a research note on Wednesday, January 22nd. Morgan Stanley cut New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $83.00 to $52.00 in a research note on Wednesday, January 22nd. Finally, Macquarie downgraded 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, New Oriental Education & Technology Group presently has a consensus rating of “Hold” and an average 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.