Parametrica Management Ltd purchased a new position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) during the second quarter, Holdings Channel reports. The firm purchased 7,636 shares of the company’s stock, valued at approximately $320,000.

Other hedge funds have also recently made changes to their positions in the company. Aviva PLC raised its stake in shares of New Oriental Education & Technology Group by 6.5% in the first quarter. Aviva PLC now owns 9,800 shares of the company’s stock worth $339,000 after buying an additional 600 shares during the last quarter. Blue Rock Advisors LLC purchased a new stake in shares of New Oriental Education & Technology Group during the first quarter worth about $507,000. NN Investment Partners Holdings N.V. purchased a new stake in shares of New Oriental Education & Technology Group during the first quarter worth about $395,000. JPMorgan Chase & Co. raised its stake in shares of New Oriental Education & Technology Group by 119.2% in the first quarter. JPMorgan Chase & Co. now owns 317,716 shares of the company’s stock worth $10,991,000 after buying an additional 172,759 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of New Oriental Education & Technology Group by 6.6% in the first quarter. BlackRock Fund Advisors now owns 894,548 shares of the company’s stock worth $30,942,000 after buying an additional 55,257 shares during the last quarter. Hedge funds and other institutional investors own 80.60% of the company’s stock.

Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) traded down 3.14% during trading on Friday, hitting $46.83. The stock had a trading volume of 1,601,919 shares. New Oriental Education & Technology Group Inc. has a one year low of $18.22 and a one year high of $48.16. The stock’s 50 day moving average price is $42.60 and its 200-day moving average price is $39.58. The stock has a market cap of $7.35 billion, a P/E ratio of 32.75 and a beta of 1.80.

New Oriental Education & Technology Group (NYSE:EDU) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. The business earned $394.90 million during the quarter, compared to the consensus estimate of $389.98 million. New Oriental Education & Technology Group had a net margin of 15.21% and a return on equity of 16.90%. The business’s revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 EPS. Analysts expect that New Oriental Education & Technology Group Inc. will post $1.80 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on EDU. Zacks Investment Research lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a report on Friday. T.H. Capital boosted their price objective on shares of New Oriental Education & Technology Group from $34.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, July 21st. Nomura boosted their price objective on shares of New Oriental Education & Technology Group from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, July 21st. Brean Capital initiated coverage on shares of New Oriental Education & Technology Group in a research note on Thursday, July 21st. They issued a “buy” rating and a $52.00 price objective for the company. Finally, Jefferies Group reissued a “buy” rating and issued a $50.00 price objective on shares of New Oriental Education & Technology Group in a research note on Friday, July 8th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $41.27.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc is a provider of private educational services in the People’s Republic of China (the PRC). The Company offers a range of educational programs, services and products, consisting primarily of English and other foreign language training, test preparation courses for admissions and assessment tests in the United States, the PRC and Commonwealth countries, primary and secondary school education, development and distribution of educational content, software and other technology, and online education.

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