Thornburg Investment Management Inc. Sells 825,186 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Thornburg Investment Management Inc. decreased its holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 87.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,057 shares of the company’s stock after selling 825,186 shares during the period. Thornburg Investment Management Inc. owned 0.07% of New Oriental Education & Technology Group worth $7,320,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new position in New Oriental Education & Technology Group in the 4th quarter valued at approximately $3,690,000. Point72 Hong Kong Ltd purchased a new position in shares of New Oriental Education & Technology Group in the fourth quarter valued at $22,139,000. Quantinno Capital Management LP grew its position in shares of New Oriental Education & Technology Group by 25.7% in the fourth quarter. Quantinno Capital Management LP now owns 4,031 shares of the company’s stock valued at $259,000 after purchasing an additional 824 shares in the last quarter. Man Group plc bought a new stake in shares of New Oriental Education & Technology Group during the 4th quarter valued at $282,000. Finally, OLP CAPITAL MANAGEMENT Ltd lifted its holdings in New Oriental Education & Technology Group by 28.7% during the 4th quarter. OLP CAPITAL MANAGEMENT Ltd now owns 923,306 shares of the company’s stock worth $59,258,000 after purchasing an additional 206,073 shares in the last quarter.

New Oriental Education & Technology Group Price Performance

Shares of EDU opened at $48.62 on Friday. New Oriental Education & Technology Group Inc. has a 1-year low of $40.66 and a 1-year high of $87.26. The company has a market capitalization of $8.25 billion, a P/E ratio of 20.69 and a beta of 0.25. The firm’s 50 day simple moving average is $47.04 and its 200 day simple moving average is $53.20.

New Oriental Education & Technology Group (NYSE:EDU) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.06). New Oriental Education & Technology Group had a net margin of 8.13% and a return on equity of 9.48%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter last year, the business posted $0.63 EPS. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on EDU shares. Citigroup lowered New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $83.00 to $50.00 in a report on Friday, January 24th. Morgan Stanley lowered shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. China Renaissance lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Monday, March 24th. JPMorgan Chase & Co. cut their price target on shares of New Oriental Education & Technology Group from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Finally, StockNews.com upgraded shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, New Oriental Education & Technology Group has an average rating of “Hold” and a consensus target price of $60.80.

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: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.