AdvisorShares Investments LLC Sells 284 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

AdvisorShares Investments LLC lowered its position in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,825 shares of the company’s stock after selling 284 shares during the quarter. AdvisorShares Investments LLC’s holdings in New Oriental Education & Technology Group were worth $934,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ridgewood Investments LLC acquired a new stake in New Oriental Education & Technology Group in the 2nd quarter valued at about $43,000. Assetmark Inc. raised its stake in New Oriental Education & Technology Group by 1,642.9% in the fourth quarter. Assetmark Inc. now owns 610 shares of the company’s stock valued at $45,000 after buying an additional 575 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of New Oriental Education & Technology Group in the second quarter valued at approximately $50,000. Blue Trust Inc. boosted its stake in shares of New Oriental Education & Technology Group by 782.4% during the 2nd quarter. Blue Trust Inc. now owns 803 shares of the company’s stock worth $62,000 after acquiring an additional 712 shares during the period. Finally, Yousif Capital Management LLC acquired a new position in shares of New Oriental Education & Technology Group during the 1st quarter worth approximately $231,000.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Citigroup cut their price target on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a report on Friday, August 2nd. HSBC initiated coverage on shares of New Oriental Education & Technology Group in a research note on Wednesday, May 29th. They set a “buy” rating and a $110.00 target price for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.67.

New Oriental Education & Technology Group Price Performance

Shares of NYSE EDU opened at $61.67 on Wednesday. The firm has a market cap of $10.47 billion, a price-to-earnings ratio of 33.16 and a beta of 0.46. The stock’s fifty day moving average price is $69.49 and its two-hundred day moving average price is $78.97. New Oriental Education & Technology Group Inc. has a one year low of $53.44 and a one year high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.19). New Oriental Education & Technology Group had a net margin of 7.18% and a return on equity of 7.50%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. On average, equities analysts anticipate that New Oriental Education & Technology Group Inc. will post 2.83 earnings per share for the current fiscal year.

New Oriental Education & Technology Group Announces Dividend

The firm also recently announced a — dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, September 9th.

About New Oriental Education & Technology Group

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.