New Oriental Education & Tech Grp (NYSE:EDU) Stake Lessened by Greenwoods Asset Management Ltd

Share on StockTwits

Greenwoods Asset Management Ltd lessened its stake in shares of New Oriental Education & Tech Grp (NYSE:EDU) by 6.6% during the first quarter, Holdings Channel reports. The fund owned 3,844,828 shares of the company’s stock after selling 273,142 shares during the quarter. New Oriental Education & Tech Grp accounts for about 21.3% of Greenwoods Asset Management Ltd’s portfolio, making the stock its 2nd biggest position. Greenwoods Asset Management Ltd’s holdings in New Oriental Education & Tech Grp were worth $346,381,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in EDU. Icon Wealth Partners LLC bought a new stake in New Oriental Education & Tech Grp during the 1st quarter worth approximately $31,000. Cornerstone Advisors Inc. raised its stake in New Oriental Education & Tech Grp by 96.5% during the 1st quarter. Cornerstone Advisors Inc. now owns 454 shares of the company’s stock worth $41,000 after acquiring an additional 223 shares during the period. Shine Investment Advisory Services Inc. bought a new stake in New Oriental Education & Tech Grp during the 1st quarter worth approximately $45,000. Advisory Services Network LLC raised its stake in New Oriental Education & Tech Grp by 31.1% during the 4th quarter. Advisory Services Network LLC now owns 876 shares of the company’s stock worth $48,000 after acquiring an additional 208 shares during the period. Finally, FTB Advisors Inc. bought a new stake in New Oriental Education & Tech Grp during the 1st quarter worth approximately $57,000. 86.43% of the stock is currently owned by hedge funds and other institutional investors.

EDU stock opened at $89.60 on Thursday. New Oriental Education & Tech Grp has a fifty-two week low of $50.30 and a fifty-two week high of $106.97. The company has a quick ratio of 1.61, a current ratio of 1.63 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $13.02 billion, a P/E ratio of 48.08, a price-to-earnings-growth ratio of 0.92 and a beta of 1.61.

New Oriental Education & Tech Grp (NYSE:EDU) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.55 by $0.14. The company had revenue of $796.70 million during the quarter, compared to analyst estimates of $788.52 million. New Oriental Education & Tech Grp had a net margin of 8.80% and a return on equity of 14.88%. New Oriental Education & Tech Grp’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 earnings per share. Analysts predict that New Oriental Education & Tech Grp will post 1.68 earnings per share for the current year.

Several research firms have recently issued reports on EDU. TheStreet upgraded shares of New Oriental Education & Tech Grp from a “c+” rating to a “b” rating in a research report on Thursday, April 25th. Zacks Investment Research lowered shares of New Oriental Education & Tech Grp from a “strong-buy” rating to a “hold” rating in a report on Monday, April 29th. CICC Research raised shares of New Oriental Education & Tech Grp from a “hold” rating to a “buy” rating and set a $92.97 target price for the company in a report on Wednesday, April 24th. Nomura raised their target price on shares of New Oriental Education & Tech Grp from $100.00 to $105.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Benchmark reissued a “buy” rating and issued a $105.00 target price (up from $90.00) on shares of New Oriental Education & Tech Grp in a report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. New Oriental Education & Tech Grp has an average rating of “Buy” and an average target price of $90.37.

TRADEMARK VIOLATION WARNING: This story was posted by Highlight Press and is the sole property of of Highlight Press. If you are viewing this story on another site, it was illegally copied and reposted in violation of international copyright laws. The original version of this story can be viewed at https://highlightpress.com/2019/06/13/new-oriental-education-tech-grp-nyseedu-stake-lessened-by-greenwoods-asset-management-ltd.html.

New Oriental Education & Tech Grp Company Profile

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. It operates through Language Training and Test Preparation Courses, and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to achieve better scores on entrance exams for admission into high schools or higher education institutions, as well as for children to teach English.

See Also: Options Trading

Want to see what other hedge funds are holding EDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Oriental Education & Tech Grp (NYSE:EDU).

Institutional Ownership by Quarter for New Oriental Education & Tech Grp (NYSE:EDU)

Receive News & Ratings for New Oriental Education & Tech Grp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Oriental Education & Tech Grp and related companies with MarketBeat.com's FREE daily email newsletter.