Artisan Partners Limited Partnership Raises Stock Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Artisan Partners Limited Partnership lifted its holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 34.9% in the fourth quarter, HoldingsChannel reports. The firm owned 69,113 shares of the company’s stock after purchasing an additional 17,897 shares during the quarter. Artisan Partners Limited Partnership’s holdings in New Oriental Education & Technology Group were worth $4,436,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new position in shares of New Oriental Education & Technology Group in the 4th quarter worth $51,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in New Oriental Education & Technology Group by 14.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock worth $126,000 after acquiring an additional 206 shares in the last quarter. Empowered Funds LLC bought a new stake in New Oriental Education & Technology Group during the fourth quarter worth approximately $138,000. Blue Trust Inc. raised its position in New Oriental Education & Technology Group by 37.8% during the fourth quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock valued at $181,000 after purchasing an additional 775 shares during the period. Finally, Sei Investments Co. bought a new stake in shares of New Oriental Education & Technology Group in the 4th quarter valued at approximately $224,000.

New Oriental Education & Technology Group Stock Performance

New Oriental Education & Technology Group stock opened at $46.99 on Friday. The company has a market capitalization of $7.97 billion, a PE ratio of 20.00 and a beta of 0.47. The company has a 50 day moving average price of $49.57 and a 200-day moving average price of $58.72. New Oriental Education & Technology Group Inc. has a fifty-two week low of $44.46 and a fifty-two week high of $91.04.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EDU shares. StockNews.com downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th. JPMorgan Chase & Co. downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $85.00 to $50.00 in a research note on Wednesday, January 22nd. Macquarie cut shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and dropped their price target for the stock from $79.00 to $44.00 in a research note on Wednesday, January 22nd. Citigroup downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $83.00 to $50.00 in a research note on Friday, January 24th. Finally, Morgan Stanley downgraded New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $83.00 to $52.00 in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $61.20.

New Oriental Education & Technology Group Company Profile

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.