Brilliance Asset Management Ltd. Decreases Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Brilliance Asset Management Ltd. cut its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 351,068 shares of the company’s stock after selling 27,062 shares during the quarter. New Oriental Education & Technology Group accounts for about 5.1% of Brilliance Asset Management Ltd.’s holdings, making the stock its 6th biggest holding. Brilliance Asset Management Ltd.’s holdings in New Oriental Education & Technology Group were worth $22,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of EDU. Aspex Management HK Ltd boosted its holdings in shares of New Oriental Education & Technology Group by 46.7% in the 3rd quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company’s stock worth $360,493,000 after purchasing an additional 1,513,640 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in New Oriental Education & Technology Group by 23.2% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,823,200 shares of the company’s stock worth $138,271,000 after buying an additional 342,800 shares during the last quarter. Carrhae Capital LLP raised its stake in shares of New Oriental Education & Technology Group by 52.4% during the fourth quarter. Carrhae Capital LLP now owns 1,042,689 shares of the company’s stock worth $66,920,000 after acquiring an additional 358,502 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in New Oriental Education & Technology Group by 20,215.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 994,431 shares of the company’s stock worth $75,418,000 after purchasing an additional 989,536 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in New Oriental Education & Technology Group by 192.2% during the third quarter. JPMorgan Chase & Co. now owns 826,783 shares of the company’s stock valued at $62,703,000 after buying an additional 543,810 shares during the period.

New Oriental Education & Technology Group Price Performance

Shares of NYSE:EDU opened at $47.29 on Thursday. New Oriental Education & Technology Group Inc. has a 1 year low of $44.46 and a 1 year high of $91.04. The stock’s 50-day moving average is $50.08 and its 200 day moving average is $58.92. The company has a market cap of $8.02 billion, a PE ratio of 20.12 and a beta of 0.47.

Analyst Ratings Changes

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

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.