New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 97.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,781 shares of the company’s stock after selling 315,421 shares during the quarter. Victory Capital Management Inc.’s holdings in New Oriental Education & Technology Group were worth $499,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in New Oriental Education & Technology Group during the fourth quarter worth $51,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 purchasing an additional 206 shares during the last quarter. Empowered Funds LLC acquired a new position in New Oriental Education & Technology Group during the fourth quarter worth $138,000. Blue Trust Inc. raised its holdings in New Oriental Education & Technology Group by 37.8% during the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock worth $181,000 after purchasing an additional 775 shares during the last quarter. Finally, RWC Asset Management LLP acquired a new position in New Oriental Education & Technology Group during the fourth quarter worth $258,000.

New Oriental Education & Technology Group Price Performance

EDU opened at $50.12 on Friday. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 21.33 and a beta of 0.47. New Oriental Education & Technology Group Inc. has a 12 month low of $44.46 and a 12 month high of $94.59. The business has a 50-day moving average of $50.80 and a two-hundred day moving average of $59.21.

Wall Street Analyst Weigh In

Several research firms have weighed in on EDU. Morgan Stanley downgraded New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $83.00 to $52.00 in a research report on Wednesday, January 22nd. StockNews.com downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th. Citigroup downgraded New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $83.00 to $50.00 in a research report on Friday, January 24th. Macquarie downgraded New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and dropped their price target for the stock from $79.00 to $44.00 in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. downgraded New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $85.00 to $50.00 in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently 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.