Cambridge Investment Research Advisors Inc. Sells 6,038 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Cambridge Investment Research Advisors Inc. decreased its position in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 37.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,011 shares of the company’s stock after selling 6,038 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in New Oriental Education & Technology Group were worth $82,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Toronto Dominion Bank lifted its holdings in shares of New Oriental Education & Technology Group by 86.7% during the second quarter. Toronto Dominion Bank now owns 13,175 shares of the company’s stock worth $108,000 after buying an additional 6,117 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of New Oriental Education & Technology Group by 24.9% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 260,794 shares of the company’s stock worth $2,136,000 after buying an additional 52,024 shares during the last quarter. Taikang Asset Management Hong Kong Co Ltd acquired a new position in shares of New Oriental Education & Technology Group during the second quarter worth approximately $3,144,000. BNP Paribas Arbitrage SA lifted its holdings in shares of New Oriental Education & Technology Group by 22.5% during the second quarter. BNP Paribas Arbitrage SA now owns 3,243,982 shares of the company’s stock worth $26,568,000 after buying an additional 595,926 shares during the last quarter. Finally, Aviva PLC lifted its holdings in shares of New Oriental Education & Technology Group by 9.1% during the second quarter. Aviva PLC now owns 539,861 shares of the company’s stock worth $4,422,000 after buying an additional 45,171 shares during the last quarter. 68.90% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently commented on EDU shares. The Goldman Sachs Group lowered New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating in a research note on Monday, July 26th. Zacks Investment Research upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Monday, September 27th. HSBC lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Friday, June 18th. Deutsche Bank Aktiengesellschaft lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Monday, July 26th. Finally, Morgan Stanley upgraded New Oriental Education & Technology Group from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 30th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.45.

New Oriental Education & Technology Group stock opened at $2.34 on Thursday. The business’s 50-day simple moving average is $2.06 and its 200 day simple moving average is $7.44. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 9.75 and a beta of 0.84. New Oriental Education & Technology Group Inc. has a 12-month low of $1.68 and a 12-month high of $19.97.

New Oriental Education & Technology Group 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: K-12 AST, Test preparation, and Other Courses, Primary and Secondary School Education, Online Education, Content Development and Distribution, Pre-School Education, Overseas Study Consulting Services, and Study Tours.

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

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