Public Employees Retirement System of Ohio Buys New Holdings in New Oriental Education & Technology Group, Inc. $EDU

Public Employees Retirement System of Ohio purchased a new position in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 12,746 shares of the company’s stock, valued at approximately $585,000.

Other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its stake in New Oriental Education & Technology Group by 7,314.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the company’s stock valued at $28,000 after buying an additional 512 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of New Oriental Education & Technology Group by 106.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 540 shares of the company’s stock worth $31,000 after acquiring an additional 279 shares during the period. Atlas Capital Advisors Inc. bought a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth approximately $72,000. Raymond James Financial Inc. acquired a new position in shares of New Oriental Education & Technology Group during the 2nd quarter worth approximately $111,000. Finally, Leonteq Securities AG acquired a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth approximately $155,000.

Insider Buying and Selling

In related news, Director Chenggang Zhou sold 56,948 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $56.83, for a total transaction of $3,236,354.84. Following the sale, the director owned 429,998 shares of the company’s stock, valued at $24,436,786.34. This represents a 11.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Yue Zhuge sold 1,600 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $59.55, for a total value of $95,280.00. Following the transaction, the director owned 2,000 shares in the company, valued at approximately $119,100. This trade represents a 44.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 72,170 shares of company stock worth $4,100,348 in the last three months. 15.50% of the stock is currently owned by company insiders.

New Oriental Education & Technology Group Trading Down 1.6%

Shares of EDU opened at $54.60 on Friday. New Oriental Education & Technology Group, Inc. has a 12 month low of $44.25 and a 12 month high of $64.97. The firm’s 50 day moving average is $53.94 and its 200-day moving average is $52.63. The stock has a market capitalization of $8.63 billion, a PE ratio of 18.45, a P/E/G ratio of 0.59 and a beta of 0.23.

Wall Street Analyst Weigh In

EDU has been the subject of several research reports. Wall Street Zen downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. The Goldman Sachs Group upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $67.00 to $65.00 in a report on Thursday, June 11th. New Street Research set a $56.50 price objective on shares of New Oriental Education & Technology Group in a research report on Thursday, July 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of New Oriental Education & Technology Group in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.92.

New Oriental Education & Technology Group Profile

New Oriental Education & Technology Group Inc is a China-based education services provider that offers learning programs through online platforms and physical schools and learning centers. The company serves students, families and adult learners with services covering language training, test preparation, educational consulting and other academic programs.

Its offerings have historically included preparation for overseas admissions and examinations such as TOEFL, IELTS, SAT, GRE and GMAT, as well as overseas study consulting, domestic examination preparation, primary and secondary education services, and educational materials and software.