Monolith Management Ltd Trims Holdings in New Oriental Education & Technology Group, Inc. $EDU

Monolith Management Ltd reduced its stake in shares of New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 61.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 195,921 shares of the company’s stock after selling 310,125 shares during the quarter. New Oriental Education & Technology Group comprises about 4.0% of Monolith Management Ltd’s investment portfolio, making the stock its 8th biggest position. Monolith Management Ltd’s holdings in New Oriental Education & Technology Group were worth $10,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in EDU. Cerity Partners LLC bought a new stake in New Oriental Education & Technology Group during the second quarter worth approximately $221,000. Sei Investments Co. increased its stake in New Oriental Education & Technology Group by 46.6% during the second quarter. Sei Investments Co. now owns 5,122 shares of the company’s stock worth $276,000 after acquiring an additional 1,629 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in New Oriental Education & Technology Group during the second quarter worth approximately $378,000. Quantinno Capital Management LP grew its stake in shares of New Oriental Education & Technology Group by 168.2% during the second quarter. Quantinno Capital Management LP now owns 13,215 shares of the company’s stock valued at $713,000 after buying an additional 8,287 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of New Oriental Education & Technology Group during the second quarter valued at approximately $111,000.

New Oriental Education & Technology Group Price Performance

EDU stock opened at $46.64 on Wednesday. The business has a 50-day moving average price of $51.39 and a 200 day moving average price of $54.55. The company has a market capitalization of $7.37 billion, a P/E ratio of 17.87, a PEG ratio of 0.65 and a beta of 0.17. New Oriental Education & Technology Group, Inc. has a 1-year low of $41.62 and a 1-year high of $64.97.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings data on Tuesday, April 14th. The company reported $0.10 earnings per share for the quarter. The firm had revenue of $1.42 billion during the quarter. New Oriental Education & Technology Group had a return on equity of 11.67% and a net margin of 7.82%. On average, analysts anticipate that New Oriental Education & Technology Group, Inc. will post 3.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Zacks Research cut New Oriental Education & Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. New Street Research set a $65.00 target price on New Oriental Education & Technology Group in a research note on Thursday, June 11th. The Goldman Sachs Group raised New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating and cut their target price for the company from $67.00 to $65.00 in a research note on Thursday, June 11th. Finally, Weiss Ratings cut New Oriental Education & Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.24.

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.