Persistent Asset Partners Ltd Purchases Shares of 10,653 New Oriental Education & Technology Group, Inc. $EDU

Persistent Asset Partners Ltd acquired a new stake in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 10,653 shares of the company’s stock, valued at approximately $565,000.

Several other large investors have also modified their holdings of the stock. Bessemer Group Inc. acquired a new stake in shares of New Oriental Education & Technology Group in the second quarter worth approximately $37,000. Hantz Financial Services Inc. raised its stake in New Oriental Education & Technology Group by 738.0% during the second quarter. Hantz Financial Services Inc. now owns 905 shares of the company’s stock worth $49,000 after purchasing an additional 797 shares during the period. Raymond James Financial Inc. acquired a new position in shares of New Oriental Education & Technology Group in the 2nd quarter valued at $111,000. Cerity Partners LLC purchased a new stake in shares of New Oriental Education & Technology Group during the 2nd quarter valued at $221,000. Finally, KBC Group NV increased its holdings in shares of New Oriental Education & Technology Group by 11.3% during the 2nd quarter. KBC Group NV now owns 4,474 shares of the company’s stock worth $241,000 after buying an additional 454 shares during the last quarter.

New Oriental Education & Technology Group Stock Up 0.4%

Shares of NYSE EDU opened at $59.81 on Friday. The stock’s 50 day moving average price is $57.64 and its two-hundred day moving average price is $54.15. New Oriental Education & Technology Group, Inc. has a 52-week low of $40.66 and a 52-week high of $64.97. The stock has a market capitalization of $9.45 billion, a P/E ratio of 25.34, a PEG ratio of 1.02 and a beta of 0.27.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Wednesday, January 28th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.34 by $0.11. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. New Oriental Education & Technology Group had a return on equity of 11.19% and a net margin of 7.40%.The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 EPS. On average, analysts anticipate that New Oriental Education & Technology Group, Inc. will post 2.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. New Street Research set a $68.00 target price on New Oriental Education & Technology Group in a report on Wednesday, January 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of New Oriental Education & Technology Group in a research note on Monday, December 29th. Zacks Research upgraded New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. The Goldman Sachs Group restated a “neutral” rating and issued a $60.00 price target on shares of New Oriental Education & Technology Group in a report on Wednesday, October 29th. Finally, HSBC raised shares of New Oriental Education & Technology Group from a “hold” rating to a “buy” rating in a research report on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, New Oriental Education & Technology Group presently has a consensus rating of “Buy” and a consensus price target of $65.84.

New Oriental Education & Technology Group Company Profile

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.