Majedie Asset Management Ltd Has $5.91 Million Holdings in New Oriental Education & Tech Grp (EDU)

Majedie Asset Management Ltd raised its holdings in shares of New Oriental Education & Tech Grp (NYSE:EDU) by 18.2% during the third quarter, HoldingsChannel.com reports. The fund owned 79,863 shares of the company’s stock after purchasing an additional 12,308 shares during the quarter. Majedie Asset Management Ltd’s holdings in New Oriental Education & Tech Grp were worth $5,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of EDU. Coronation Fund Managers Ltd. bought a new stake in New Oriental Education & Tech Grp during the 3rd quarter valued at $115,983,000. Canada Pension Plan Investment Board raised its holdings in New Oriental Education & Tech Grp by 352.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,062,605 shares of the company’s stock valued at $100,586,000 after acquiring an additional 827,958 shares during the period. Schroder Investment Management Group raised its holdings in New Oriental Education & Tech Grp by 7.6% during the 2nd quarter. Schroder Investment Management Group now owns 6,383,548 shares of the company’s stock valued at $599,288,000 after acquiring an additional 452,870 shares during the period. SeaTown Holdings Pte. Ltd. bought a new stake in New Oriental Education & Tech Grp during the 3rd quarter valued at $26,052,000. Finally, BlackRock Inc. raised its holdings in New Oriental Education & Tech Grp by 4.2% during the 2nd quarter. BlackRock Inc. now owns 6,786,748 shares of the company’s stock valued at $642,432,000 after acquiring an additional 276,215 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on EDU shares. Morgan Stanley cut shares of New Oriental Education & Tech Grp from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 2nd. ValuEngine lowered shares of New Oriental Education & Tech Grp from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. CLSA upgraded shares of New Oriental Education & Tech Grp from an “underperform” rating to a “buy” rating in a research report on Monday, October 15th. JPMorgan Chase & Co. upgraded shares of New Oriental Education & Tech Grp from a “neutral” rating to an “overweight” rating in a research report on Thursday, July 26th. Finally, Benchmark reduced their price target on shares of New Oriental Education & Tech Grp from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $88.00.

EDU opened at $63.36 on Friday. The firm has a market cap of $8.11 billion, a PE ratio of 33.88, a PEG ratio of 0.89 and a beta of 1.15. New Oriental Education & Tech Grp has a one year low of $51.21 and a one year high of $108.40.

New Oriental Education & Tech Grp (NYSE:EDU) last released its quarterly earnings results on Tuesday, October 23rd. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The firm had revenue of $859.80 million during the quarter, compared to analyst estimates of $839.68 million. New Oriental Education & Tech Grp had a net margin of 9.86% and a return on equity of 15.47%. The business’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.02 EPS. As a group, sell-side analysts anticipate that New Oriental Education & Tech Grp will post 1.94 earnings per share for the current fiscal year.

New Oriental Education & Tech Grp declared that its Board of Directors has initiated a stock repurchase program on Tuesday, October 23rd that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

New Oriental Education & Tech Grp Profile

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. It operates through Language Training and Test Preparation Courses, and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to achieve better scores on entrance exams for admission into high schools or higher education institutions, as well as for children to teach English.

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Institutional Ownership by Quarter for New Oriental Education & Tech Grp (NYSE:EDU)

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