Norges Bank Invests $33.66 Million in New Oriental Education & Technology Group, Inc. $EDU

Norges Bank purchased a new position in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 623,886 shares of the company’s stock, valued at approximately $33,659,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EDU. BRIGHT VALLEY CAPITAL Ltd bought a new position in New Oriental Education & Technology Group during the first quarter worth about $50,583,000. Siren L.L.C. grew its position in shares of New Oriental Education & Technology Group by 16.1% during the 1st quarter. Siren L.L.C. now owns 79,500 shares of the company’s stock worth $3,801,000 after purchasing an additional 11,000 shares in the last quarter. Long Corridor Asset Management Ltd acquired a new position in shares of New Oriental Education & Technology Group during the 1st quarter worth approximately $1,817,000. Quantbot Technologies LP bought a new position in shares of New Oriental Education & Technology Group during the first quarter worth approximately $1,256,000. Finally, Jump Financial LLC acquired a new stake in shares of New Oriental Education & Technology Group in the first quarter valued at approximately $4,972,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on EDU shares. Zacks Research downgraded New Oriental Education & Technology Group from a “hold” rating to a “strong sell” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. upped their target price on New Oriental Education & Technology Group from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Citigroup decreased their price target on New Oriental Education & Technology Group from $77.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, September 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research report on Monday, December 1st. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $60.00 price objective on shares of New Oriental Education & Technology Group in a research note on Wednesday, October 29th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $59.53.

New Oriental Education & Technology Group Stock Up 2.6%

NYSE:EDU opened at $52.59 on Monday. New Oriental Education & Technology Group, Inc. has a twelve month low of $40.66 and a twelve month high of $68.53. The stock’s 50-day simple moving average is $54.66 and its 200 day simple moving average is $51.01. The firm has a market capitalization of $8.31 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 1.24 and a beta of 0.32.

New Oriental Education & Technology Group Announces Dividend

The business also recently declared a special dividend, which was paid on Friday, December 5th. Investors of record on Tuesday, November 18th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, November 18th. New Oriental Education & Technology Group’s payout ratio is 25.55%.

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.