Greenwoods Asset Management Hong Kong Ltd. Sells 582,416 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Greenwoods Asset Management Hong Kong Ltd. reduced its holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 32.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,228,318 shares of the company’s stock after selling 582,416 shares during the quarter. New Oriental Education & Technology Group makes up approximately 2.5% of Greenwoods Asset Management Hong Kong Ltd.’s holdings, making the stock its 12th largest holding. Greenwoods Asset Management Hong Kong Ltd.’s holdings in New Oriental Education & Technology Group were worth $78,833,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of EDU. SBI Securities Co. Ltd. acquired a new position in shares of New Oriental Education & Technology Group in the 4th quarter worth approximately $51,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in New Oriental Education & Technology Group by 14.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock worth $126,000 after buying an additional 206 shares in the last quarter. Empowered Funds LLC acquired a new position in New Oriental Education & Technology Group during the 4th quarter worth $138,000. Blue Trust Inc. lifted its holdings in New Oriental Education & Technology Group by 37.8% during the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock worth $181,000 after buying an additional 775 shares in the last quarter. Finally, RWC Asset Management LLP acquired a new position in New Oriental Education & Technology Group during the 4th quarter worth $258,000.

New Oriental Education & Technology Group Stock Down 0.8 %

EDU stock opened at $48.59 on Friday. The firm has a market cap of $8.25 billion, a price-to-earnings ratio of 20.68 and a beta of 0.47. New Oriental Education & Technology Group Inc. has a 12-month low of $44.46 and a 12-month high of $95.88. The company’s fifty day simple moving average is $53.98 and its 200 day simple moving average is $60.47.

Analyst Ratings Changes

EDU has been the subject of several recent research reports. Citigroup cut shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $83.00 to $50.00 in a research report on Friday, January 24th. StockNews.com upgraded New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a report on Wednesday. Macquarie downgraded shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and reduced their price objective for the stock from $79.00 to $44.00 in a research note on Wednesday, January 22nd. Morgan Stanley downgraded shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and cut their target price for the company 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 cut their price objective for the stock from $85.00 to $50.00 in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.