New Oriental Education & Technology Group, Inc. (NYSE:EDU) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lowered its holdings in New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 26.3% during the first quarter, Holdings Channel reports. The fund owned 150,213 shares of the company’s stock after selling 53,583 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in New Oriental Education & Technology Group were worth $7,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GeoWealth Management LLC increased its stake in shares of New Oriental Education & Technology Group by 258.5% in the fourth quarter. GeoWealth Management LLC now owns 441 shares of the company’s stock worth $28,000 after acquiring an additional 318 shares during the period. Westpac Banking Corp purchased a new stake in New Oriental Education & Technology Group during the fourth quarter worth $45,000. Banque Cantonale Vaudoise purchased a new stake in New Oriental Education & Technology Group during the first quarter worth $54,000. Natixis boosted its holdings in New Oriental Education & Technology Group by 39.2% during the fourth quarter. Natixis now owns 881 shares of the company’s stock worth $57,000 after buying an additional 248 shares in the last quarter. Finally, BNP Paribas purchased a new stake in New Oriental Education & Technology Group during the fourth quarter worth $113,000.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on EDU shares. Wall Street Zen raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Monday, May 5th. JPMorgan Chase & Co. raised shares of New Oriental Education & Technology Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $48.00 to $62.00 in a report on Tuesday, June 24th. Finally, Citigroup raised shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $77.00 to $50.00 in a report on Friday, June 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $52.00.

New Oriental Education & Technology Group Price Performance

Shares of EDU stock opened at $47.40 on Tuesday. The firm’s 50-day moving average is $49.13 and its two-hundred day moving average is $48.90. The company has a market capitalization of $8.04 billion, a PE ratio of 20.00 and a beta of 0.28. New Oriental Education & Technology Group, Inc. has a 12 month low of $40.66 and a 12 month high of $87.26.

About New Oriental Education & Technology Group

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.