Point72 Asset Management L.P. acquired a new stake in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 48,200 shares of the company’s stock, valued at approximately $2,910,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of New Oriental Education & Technology Group by 2.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 417,925 shares of the company’s stock worth $25,234,000 after buying an additional 10,124 shares during the last quarter. Seatown Holdings Pte. Ltd. bought a new position in shares of New Oriental Education & Technology Group during the first quarter worth about $18,769,000. Guinness Asset Management Ltd boosted its position in shares of New Oriental Education & Technology Group by 13.5% in the first quarter. Guinness Asset Management Ltd now owns 56,080 shares of the company’s stock worth $3,386,000 after buying an additional 6,680 shares during the last quarter. Guinness Atkinson Asset Management Inc boosted its position in shares of New Oriental Education & Technology Group by 9.0% in the first quarter. Guinness Atkinson Asset Management Inc now owns 170,000 shares of the company’s stock worth $10,265,000 after buying an additional 14,100 shares during the last quarter. Finally, DnB Asset Management AS boosted its position in shares of New Oriental Education & Technology Group by 55.2% in the first quarter. DnB Asset Management AS now owns 267,276 shares of the company’s stock worth $16,138,000 after buying an additional 95,076 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

New Oriental Education & Technology Group, Inc. (NYSE EDU) traded up 1.72% during trading on Thursday, hitting $78.65. The stock had a trading volume of 920,858 shares. New Oriental Education & Technology Group, Inc. has a one year low of $37.16 and a one year high of $83.91. The stock has a 50 day moving average of $75.87 and a 200 day moving average of $63.39. The firm has a market capitalization of $12.39 billion, a P/E ratio of 50.74 and a beta of 1.40.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.03. New Oriental Education & Technology Group had a net margin of 15.25% and a return on equity of 17.02%. The company had revenue of $486.40 million for the quarter, compared to the consensus estimate of $477.81 million. During the same period in the prior year, the firm posted $0.29 EPS. The business’s revenue was up 23.2% on a year-over-year basis. Equities research analysts expect that New Oriental Education & Technology Group, Inc. will post $2.40 earnings per share for the current fiscal year.

The business also recently declared a special dividend, which will be paid on Friday, October 6th. Stockholders of record on Wednesday, September 6th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, September 1st. This is an increase from New Oriental Education & Technology Group’s previous special dividend of $0.40.

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A number of brokerages have recently weighed in on EDU. Jefferies Group LLC restated a “buy” rating and set a $74.80 target price on shares of New Oriental Education & Technology Group in a report on Tuesday, April 25th. UBS AG initiated coverage on New Oriental Education & Technology Group in a report on Tuesday. They set a “buy” rating and a $96.75 target price on the stock. Zacks Investment Research cut New Oriental Education & Technology Group from a “strong-buy” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub cut New Oriental Education & Technology Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, J P Morgan Chase & Co restated a “neutral” rating and set a $62.00 target price on shares of New Oriental Education & Technology Group in a report on Wednesday, May 17th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $76.36.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group Inc is a provider of private educational services in the People’s Republic of China (the PRC). The Company provides educational services under its New Oriental brand. The Company operates through seven segments, which include language training and test preparation, primary and secondary school education, online education, content development and distribution, pre-school education, overseas study consulting services and study tour.

Institutional Ownership by Quarter for New Oriental Education & Technology Group (NYSE:EDU)

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