NINE MASTS CAPITAL Ltd Decreases Stake in New Oriental Education & Technology Group Inc. (NYSE:EDU)

NINE MASTS CAPITAL Ltd trimmed its holdings in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 75.8% during the second quarter, Holdings Channel reports. The fund owned 3,000 shares of the company’s stock after selling 9,375 shares during the quarter. NINE MASTS CAPITAL Ltd’s holdings in New Oriental Education & Technology Group were worth $229,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Ridgewood Investments LLC acquired a new stake in New Oriental Education & Technology Group during the 2nd quarter valued at approximately $43,000. Assetmark Inc. boosted its stake in shares of New Oriental Education & Technology Group by 1,642.9% during the 4th quarter. Assetmark Inc. now owns 610 shares of the company’s stock valued at $45,000 after buying an additional 575 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of New Oriental Education & Technology Group during the second quarter worth approximately $50,000. Blue Trust Inc. increased its stake in shares of New Oriental Education & Technology Group by 782.4% in the second quarter. Blue Trust Inc. now owns 803 shares of the company’s stock worth $62,000 after buying an additional 712 shares during the last quarter. Finally, Yousif Capital Management LLC bought a new stake in shares of New Oriental Education & Technology Group in the first quarter worth $231,000.

Analyst Ratings Changes

EDU has been the subject of several recent analyst reports. Citigroup decreased their price objective on shares of 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 started coverage on New Oriental Education & Technology Group in a research note on Wednesday, May 29th. They issued a “buy” rating and a $110.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, New Oriental Education & Technology Group presently has an average rating of “Moderate Buy” and an average target price of $103.67.

New Oriental Education & Technology Group Price Performance

EDU stock opened at $60.77 on Thursday. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of 32.67 and a beta of 0.46. New Oriental Education & Technology Group Inc. has a 1-year low of $53.44 and a 1-year high of $98.20. The firm has a fifty day moving average price of $69.06 and a two-hundred day moving average price of $78.85.

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

New Oriental Education & Technology Group Announces Dividend

The business also recently declared a — dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be given a dividend of $0.58 per share. The ex-dividend date 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.