Bank of America Corp DE cut its position in shares of New Oriental Education & Tech Grp (NYSE:EDU) by 30.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,060,039 shares of the company’s stock after selling 471,858 shares during the period. Bank of America Corp DE’s holdings in New Oriental Education & Tech Grp were worth $58,102,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of EDU. Renaissance Technologies LLC bought a new position in shares of New Oriental Education & Tech Grp during the third quarter worth about $125,092,000. OppenheimerFunds Inc. grew its holdings in shares of New Oriental Education & Tech Grp by 30.4% during the third quarter. OppenheimerFunds Inc. now owns 5,553,839 shares of the company’s stock worth $411,039,000 after buying an additional 1,293,535 shares in the last quarter. Sustainable Growth Advisers LP grew its holdings in shares of New Oriental Education & Tech Grp by 109.6% during the fourth quarter. Sustainable Growth Advisers LP now owns 2,473,373 shares of the company’s stock worth $135,566,000 after buying an additional 1,293,208 shares in the last quarter. Coronation Fund Managers Ltd. boosted its position in New Oriental Education & Tech Grp by 82.1% during the fourth quarter. Coronation Fund Managers Ltd. now owns 2,853,198 shares of the company’s stock valued at $156,384,000 after purchasing an additional 1,286,072 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its position in New Oriental Education & Tech Grp by 322.9% during the fourth quarter. Two Sigma Advisers LP now owns 1,627,600 shares of the company’s stock valued at $89,209,000 after purchasing an additional 1,242,700 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Several research analysts recently commented on the company. Morgan Stanley raised New Oriental Education & Tech Grp from an “equal weight” rating to an “overweight” rating and set a $81.75 price target for the company in a research report on Monday. Zacks Investment Research raised New Oriental Education & Tech Grp from a “sell” rating to a “hold” rating in a research report on Thursday, December 27th. ValuEngine raised New Oriental Education & Tech Grp from a “hold” rating to a “buy” rating in a research report on Wednesday, January 30th. TheStreet cut New Oriental Education & Tech Grp from a “b-” rating to a “c+” rating in a research report on Thursday, December 13th. Finally, Macquarie set a $75.00 price target on New Oriental Education & Tech Grp and gave the company a “buy” rating in a research report on Tuesday, January 15th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. New Oriental Education & Tech Grp currently has an average rating of “Buy” and a consensus target price of $82.20.

Shares of NYSE EDU opened at $82.78 on Tuesday. New Oriental Education & Tech Grp has a 52 week low of $50.30 and a 52 week high of $108.24. The company has a market cap of $11.34 billion, a P/E ratio of 44.27, a P/E/G ratio of 1.40 and a beta of 1.60.

New Oriental Education & Tech Grp (NYSE:EDU) last issued its quarterly earnings results on Tuesday, January 22nd. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.03 by $0.11. New Oriental Education & Tech Grp had a return on equity of 13.78% and a net margin of 8.32%. The firm had revenue of $597.07 million during the quarter, compared to analysts’ expectations of $578.50 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. Equities analysts predict that New Oriental Education & Tech Grp will post 1.68 EPS for the current fiscal year.

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New Oriental Education & Tech Grp Profile

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. It operates through Language Training and Test Preparation Courses, and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to achieve better scores on entrance exams for admission into high schools or higher education institutions, as well as for children to teach English.

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Institutional Ownership by Quarter for New Oriental Education & Tech Grp (NYSE:EDU)

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