Oppenheimer Asset Management Inc. Acquires New Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Oppenheimer Asset Management Inc. bought a new stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,912 shares of the company’s stock, valued at approximately $297,000.

Other large investors have also recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new stake in shares of New Oriental Education & Technology Group in the second quarter valued at $43,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of New Oriental Education & Technology Group in the 2nd quarter worth approximately $50,000. Blue Trust Inc. raised its holdings in shares of New Oriental Education & Technology Group by 782.4% in the 2nd quarter. Blue Trust Inc. now owns 803 shares of the company’s stock worth $62,000 after purchasing an additional 712 shares in the last quarter. Hancock Whitney Corp acquired a new stake in New Oriental Education & Technology Group during the second quarter valued at approximately $212,000. Finally, QRG Capital Management Inc. boosted its holdings in New Oriental Education & Technology Group by 7.4% during the second quarter. QRG Capital Management Inc. now owns 3,666 shares of the company’s stock worth $285,000 after buying an additional 254 shares in the last quarter.

New Oriental Education & Technology Group Stock Up 2.3 %

EDU opened at $56.72 on Thursday. The firm has a market capitalization of $9.63 billion, a P/E ratio of 24.24 and a beta of 0.49. The stock has a fifty day moving average of $65.44 and a 200-day moving average of $70.89. New Oriental Education & Technology Group Inc. has a 12-month low of $54.00 and a 12-month high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last released its 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 company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The business’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 EPS. On average, analysts expect that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on EDU shares. Morgan Stanley set a $83.00 price target on New Oriental Education & Technology Group in a report on Thursday, October 17th. Citigroup reduced their target price on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, New Oriental Education & Technology Group currently has a consensus rating of “Moderate Buy” and an average target price of $99.67.

New Oriental Education & Technology Group Profile

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.