Rhumbline Advisers Cuts Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Rhumbline Advisers cut its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 18.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,864 shares of the company’s stock after selling 1,067 shares during the quarter. Rhumbline Advisers’ holdings in New Oriental Education & Technology Group were worth $312,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of 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. lifted its position 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 valued at $181,000 after purchasing an additional 775 shares during the period. ABS Direct Equity Fund LLC boosted its holdings in New Oriental Education & Technology Group by 17.5% in the third quarter. ABS Direct Equity Fund LLC now owns 7,400 shares of the company’s stock worth $561,000 after purchasing an additional 1,100 shares during the last quarter. Hancock Whitney Corp grew its position 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 during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in New Oriental Education & Technology Group by 5.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,284 shares of the company’s stock valued at $2,003,000 after buying an additional 1,496 shares during the last quarter.

New Oriental Education & Technology Group Stock Up 1.4 %

NYSE EDU opened at $49.29 on Monday. New Oriental Education & Technology Group Inc. has a 52 week low of $44.46 and a 52 week high of $95.88. The company has a market capitalization of $8.36 billion, a P/E ratio of 20.97 and a beta of 0.47. The stock’s 50-day moving average price is $53.39 and its 200-day moving average price is $60.13.

Analyst Ratings Changes

EDU has been the topic of a number of research reports. 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 note on Wednesday, January 22nd. StockNews.com raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 5th. Citigroup lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $83.00 to $50.00 in a research report on Friday, January 24th. Macquarie cut shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and lowered their price objective for the stock from $79.00 to $44.00 in a research note on Wednesday, January 22nd. Finally, Morgan Stanley lowered shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $83.00 to $52.00 in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.