New Oriental Education & Technology Group (NYSE:EDU) Splits the Gap Up To $29.22

New Oriental Education & Technology Group LogoNew Oriental Education & Technology Group Inc. Shares (NYSE:EDU – Get Rating) was up before the market open on Thursday. The stock earlier closed at $29.22, but opened at $30.68. New Oriental Education & Technology Group shares last traded at $31.89, with 28,245 shares changing hands.

Changes in Analyst Ratings

EDU has been the topic of several analyst reports. TheStreet downgraded New Oriental Education & Technology Group from a “c-” to a “d” rating in a research report on Monday, November 21. StockNews.com begins covering New Oriental Education & Technology Group stock in a research report on Wednesday, October 12. They issue “hold” ratings on stocks. An equity research analyst has rated the stock with a hold rating and seven has given the company’s stock a buy rating. Based on data from MarketBeat.com, the company currently has a “Moderate Buy” consensus rating and a consensus target price of $36.60.

New Oriental Education & Technology Group Price Performance

The company’s 50-day moving average price is $26.04 and its 200-day moving average price is $23.69.

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New Oriental Education & Technology Group (NYSE:EDU – Get Rating) last posted its quarterly earnings results on Wednesday, October 26. The company reported $0.38 earnings per share for the quarter. The business had revenue of $744.80 million during the quarter, compared with analyst expectations of $689.08 million. New Oriental Education & Technology Group’s quarterly revenue fell 43.1% compared to the same quarter last year. Sell-side analysts predict that New Oriental Education & Technology Group Inc. will post EPS of 0.48 for the year.

Hedge Fund Burdening New Oriental Education & Technology Group

Several hedge funds and other institutional investors have recently changed their EDU holdings. Eaton Vance Management increased its stake in New Oriental Education & Technology Group by 306.7% during the first quarter. Eaton Vance’s management now owns 22,543 shares of the company worth $26,000 after purchasing an additional 17,000 shares during the period. Quadrant Capital Group LLC purchased new positions in New Oriental Education & Technology Group during the second quarter for approximately $42,000. Royal Bank of Canada increased its stake in New Oriental Education & Technology Group by 13.6% during the first quarter. Royal Bank of Canada now owns 44,215 shares of the company worth $51,000 after buying an additional 5,299 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in New Oriental Education & Technology Group by 18.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 47,823 shares of the company worth $55,000 after buying an additional 7,300 shares during the period. Finally, Signaturefd LLC increased its stake in New Oriental Education & Technology Group by 45.6% during the third quarter. Signaturefd LLC now owns 2,933 shares of the company worth $70,000 after buying an additional 918 shares during the period. 45.81% shares owned by hedge funds and other institutional investors.

New Oriental Education & Technology Group Company Profile

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New Oriental Education & Technology Group Inc provides private education services under the New Oriental brand in the People’s Republic of China. The company operates through Education Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Other segments.

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