Ariose Capital Management Ltd Takes Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Ariose Capital Management Ltd purchased a new position in New Oriental Education & Technology Group Inc. (NYSE:EDU) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 92,785 shares of the company’s stock, valued at approximately $5,955,000. New Oriental Education & Technology Group comprises about 4.9% of Ariose Capital Management Ltd’s investment portfolio, making the stock its 5th biggest holding.

A number of other hedge funds also recently bought and sold shares of EDU. Aspex Management HK Ltd boosted its stake in New Oriental Education & Technology Group by 46.7% during the 3rd quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company’s stock valued at $360,493,000 after purchasing an additional 1,513,640 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of New Oriental Education & Technology Group by 20,215.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company’s stock valued at $75,418,000 after buying an additional 989,536 shares during the last quarter. Farallon Capital Management LLC increased its holdings in New Oriental Education & Technology Group by 139.0% in the 2nd quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock worth $114,231,000 after buying an additional 854,590 shares in the last quarter. JPMorgan Chase & Co. raised its position in New Oriental Education & Technology Group by 192.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock worth $62,703,000 after buying an additional 543,810 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in New Oriental Education & Technology Group by 147.5% during the 2nd quarter. Millennium Management LLC now owns 731,758 shares of the company’s stock valued at $56,880,000 after acquiring an additional 436,098 shares during the period.

New Oriental Education & Technology Group Trading Up 2.8 %

EDU opened at $60.86 on Monday. The company’s 50 day moving average is $60.78 and its 200 day moving average is $65.57. The company has a market cap of $10.33 billion, a price-to-earnings ratio of 26.01 and a beta of 0.44. New Oriental Education & Technology Group Inc. has a 12-month low of $54.00 and a 12-month high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.27. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. New Oriental Education & Technology Group had a net margin of 8.38% and a return on equity of 9.43%. The company’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 EPS. As a group, analysts predict that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Morgan Stanley set a $83.00 price objective on shares of New Oriental Education & Technology Group in a report on Thursday, October 17th. StockNews.com raised New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th.

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.