First Beijing Investment Ltd Acquires 2,231,169 Shares of New Oriental Education & Technology Group, Inc. $EDU

First Beijing Investment Ltd lifted its stake in New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 31.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,346,501 shares of the company’s stock after purchasing an additional 2,231,169 shares during the quarter. New Oriental Education & Technology Group accounts for 19.2% of First Beijing Investment Ltd’s portfolio, making the stock its 3rd largest position. First Beijing Investment Ltd owned about 5.45% of New Oriental Education & Technology Group worth $496,019,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in EDU. Raymond James Financial Inc. purchased a new position in New Oriental Education & Technology Group during the second quarter valued at approximately $111,000. Hantz Financial Services Inc. lifted its position in New Oriental Education & Technology Group by 275.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,395 shares of the company’s stock worth $180,000 after buying an additional 2,490 shares in the last quarter. Quantbot Technologies LP lifted its position in New Oriental Education & Technology Group by 309.7% in the 3rd quarter. Quantbot Technologies LP now owns 3,532 shares of the company’s stock worth $187,000 after buying an additional 2,670 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter valued at $221,000. Finally, KBC Group NV boosted its stake in shares of New Oriental Education & Technology Group by 11.3% during the 2nd quarter. KBC Group NV now owns 4,474 shares of the company’s stock valued at $241,000 after buying an additional 454 shares during the period.

New Oriental Education & Technology Group Trading Up 0.7%

New Oriental Education & Technology Group stock opened at $53.88 on Friday. New Oriental Education & Technology Group, Inc. has a 1-year low of $40.66 and a 1-year high of $64.97. The firm’s fifty day simple moving average is $57.51 and its 200-day simple moving average is $55.06. The company has a market capitalization of $8.51 billion, a P/E ratio of 22.83, a P/E/G ratio of 0.91 and a beta of 0.28.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.11. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. New Oriental Education & Technology Group had a net margin of 7.40% and a return on equity of 11.19%. New Oriental Education & Technology Group’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share. On average, equities research analysts predict that New Oriental Education & Technology Group, Inc. will post 2.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on EDU shares. New Street Research set a $68.00 price target on shares of New Oriental Education & Technology Group in a research note on Wednesday, January 28th. Wall Street Zen raised New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. HSBC upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research report on Monday, December 29th. Finally, China Renaissance raised New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, New Oriental Education & Technology Group presently has a consensus rating of “Buy” and an average price target of $65.84.

New Oriental Education & Technology Group Profile

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.