Empowered Funds LLC Buys Shares of 2,147 New Oriental Education & Technology Group Inc. (NYSE:EDU)

Empowered Funds LLC acquired a new position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,147 shares of the company’s stock, valued at approximately $138,000.

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. grew its position 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 worth $160,000 after buying an additional 1,249 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of New Oriental Education & Technology Group by 341.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,788 shares of the company’s stock worth $2,250,000 after buying an additional 23,046 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of New Oriental Education & Technology Group during the third quarter worth approximately $629,000. Veritas Asset Management LLP grew its position in shares of New Oriental Education & Technology Group by 22.3% during the third quarter. Veritas Asset Management LLP now owns 26,038 shares of the company’s stock worth $1,975,000 after buying an additional 4,747 shares in the last quarter. Finally, AIA Group Ltd acquired a new stake in shares of New Oriental Education & Technology Group during the third quarter worth approximately $5,673,000.

New Oriental Education & Technology Group Price Performance

NYSE:EDU opened at $52.23 on Friday. New Oriental Education & Technology Group Inc. has a fifty-two week low of $44.46 and a fifty-two week high of $98.20. The stock’s 50-day moving average is $56.19 and its two-hundred day moving average is $61.69. The stock has a market cap of $8.86 billion, a PE ratio of 22.22 and a beta of 0.42.

Wall Street Analysts Forecast Growth

EDU has been the subject of a number of research reports. JPMorgan Chase & Co. downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $85.00 to $50.00 in a report on Wednesday, January 22nd. Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. Citigroup downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $83.00 to $50.00 in a report on Friday, January 24th. Finally, Macquarie downgraded shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and decreased their price objective for the stock from $79.00 to $44.00 in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $61.20.

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.