WT Asset Management Ltd Decreases Stock Holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU)

WT Asset Management Ltd cut its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 81.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 124,882 shares of the company’s stock after selling 530,910 shares during the quarter. New Oriental Education & Technology Group makes up approximately 0.9% of WT Asset Management Ltd’s investment portfolio, making the stock its 21st biggest position. WT Asset Management Ltd’s holdings in New Oriental Education & Technology Group were worth $8,015,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in New Oriental Education & Technology Group by 14.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock worth $126,000 after buying an additional 206 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of New Oriental Education & Technology Group by 155.5% in the third quarter. Blue Trust Inc. now owns 2,052 shares of the company’s stock valued at $160,000 after purchasing an additional 1,249 shares during the period. SG Americas Securities LLC acquired a new stake in New Oriental Education & Technology Group during the fourth quarter worth about $272,000. Oppenheimer Asset Management Inc. purchased a new position in New Oriental Education & Technology Group during the third quarter worth about $297,000. Finally, Hancock Whitney Corp raised its stake in New Oriental Education & Technology Group by 49.4% during the third quarter. Hancock Whitney Corp now owns 4,075 shares of the company’s stock worth $309,000 after purchasing an additional 1,348 shares during the period.

New Oriental Education & Technology Group Price Performance

Shares of New Oriental Education & Technology Group stock opened at $48.56 on Wednesday. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 20.67 and a beta of 0.42. The business has a 50-day moving average of $58.80 and a 200 day moving average of $63.22. New Oriental Education & Technology Group Inc. has a 12 month low of $44.46 and a 12 month high of $98.20.

Wall Street Analysts Forecast Growth

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