Harvest Fund Management Co. Ltd Sells 93,852 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Harvest Fund Management Co. Ltd reduced its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 24.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,452 shares of the company’s stock after selling 93,852 shares during the quarter. New Oriental Education & Technology Group comprises approximately 3.2% of Harvest Fund Management Co. Ltd’s portfolio, making the stock its 6th largest holding. Harvest Fund Management Co. Ltd owned about 0.17% of New Oriental Education & Technology Group worth $20,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Profund Advisors LLC raised its stake in New Oriental Education & Technology Group by 2.6% during the 3rd quarter. Profund Advisors LLC now owns 17,541 shares of the company’s stock worth $1,027,000 after acquiring an additional 451 shares in the last quarter. Deutsche Bank AG grew its position in New Oriental Education & Technology Group by 2.8% during the 3rd quarter. Deutsche Bank AG now owns 22,572 shares of the company’s stock worth $1,322,000 after purchasing an additional 605 shares during the last quarter. Dfpg Investments LLC grew its position in New Oriental Education & Technology Group by 7.3% during the 4th quarter. Dfpg Investments LLC now owns 11,674 shares of the company’s stock worth $852,000 after purchasing an additional 793 shares during the last quarter. Ritholtz Wealth Management grew its position in New Oriental Education & Technology Group by 12.8% during the 4th quarter. Ritholtz Wealth Management now owns 15,221 shares of the company’s stock worth $1,115,000 after purchasing an additional 1,729 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in New Oriental Education & Technology Group by 2.5% during the 3rd quarter. Lazard Asset Management LLC now owns 79,073 shares of the company’s stock worth $4,629,000 after purchasing an additional 1,896 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on EDU shares. Morgan Stanley raised their price objective on shares of New Oriental Education & Technology Group from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. StockNews.com downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th.

New Oriental Education & Technology Group Trading Up 2.0 %

Shares of NYSE:EDU traded up $1.72 during midday trading on Tuesday, hitting $89.62. The stock had a trading volume of 1,695,285 shares, compared to its average volume of 1,634,180. The company has a market capitalization of $15.21 billion, a PE ratio of 49.24 and a beta of 0.49. The stock has a 50 day moving average price of $89.76 and a two-hundred day moving average price of $78.83. New Oriental Education & Technology Group Inc. has a 1 year low of $35.70 and a 1 year high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, January 24th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.23). The firm had revenue of $869.60 million during the quarter, compared to analysts’ expectations of $814.01 million. New Oriental Education & Technology Group had a net margin of 8.54% and a return on equity of 7.97%. The firm’s revenue was up 36.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 EPS. As a group, equities analysts expect that New Oriental Education & Technology Group Inc. will post 2.02 EPS for the current year.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.