Janney Montgomery Scott LLC Sells 2,678 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)
Janney Montgomery Scott LLC reduced its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU – Free Report) by 20.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,669 shares of the company’s stock after selling 2,678 shares during the period. Janney Montgomery Scott LLC’s holdings in New Oriental Education & Technology Group were worth $926,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. Assetmark Inc. boosted its stake in New Oriental Education & Technology Group by 1,642.9% in the 4th quarter. Assetmark Inc. now owns 610 shares of the company’s stock worth $45,000 after purchasing an additional 575 shares during the period. Yousif Capital Management LLC purchased a new stake in shares of New Oriental Education & Technology Group in the first quarter worth about $231,000. Jump Financial LLC bought a new position in shares of New Oriental Education & Technology Group in the fourth quarter valued at approximately $235,000. Panagora Asset Management Inc. purchased a new position in New Oriental Education & Technology Group during the fourth quarter valued at approximately $240,000. Finally, QRG Capital Management Inc. bought a new stake in New Oriental Education & Technology Group during the 4th quarter worth approximately $271,000.
New Oriental Education & Technology Group Trading Down 2.2 %
Shares of New Oriental Education & Technology Group stock opened at $72.12 on Thursday. The firm has a market capitalization of $12.24 billion, a PE ratio of 38.77 and a beta of 0.44. New Oriental Education & Technology Group Inc. has a 12 month low of $43.65 and a 12 month high of $98.20. The business’s 50-day moving average price is $78.80 and its 200-day moving average price is $82.57.
New Oriental Education & Technology Group (NYSE:EDU – Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.06). The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.09 billion. New Oriental Education & Technology Group had a net margin of 7.72% and a return on equity of 8.11%. As a group, analysts predict that New Oriental Education & Technology Group Inc. will post 1.86 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. HSBC started coverage on shares of New Oriental Education & Technology Group in a research report on Wednesday, May 29th. They set a “buy” rating and a $110.00 price target for the company. Morgan Stanley boosted their price objective on New Oriental Education & Technology Group from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Citigroup raised their target price on shares of New Oriental Education & Technology Group from $66.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $100.75.
Check Out Our Latest Stock Report on EDU
New Oriental Education & Technology Group 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.
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