New Oriental Education & Technology Group (NYSE:EDU) Shares Gap Down – Should You Sell?

New Oriental Education & Technology Group, Inc. (NYSE:EDU) gapped down before the market opened on Wednesday. The stock had previously closed at $57.99, but opened at $53.04. New Oriental Education & Technology Group shares last traded at $50.79, with a volume of 1,841,565 shares trading hands.

Analyst Ratings Changes

EDU has been the topic of several recent analyst reports. Wall Street Zen lowered New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. New Street Research set a $56.50 price target on New Oriental Education & Technology Group in a report on Thursday, July 30th. Finally, Weiss Ratings upgraded New Oriental Education & Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $63.17.

New Oriental Education & Technology Group Stock Performance

The company has a market cap of $7.86 billion, a P/E ratio of 17.15, a P/E/G ratio of 0.62 and a beta of 0.19. The business has a fifty day simple moving average of $57.20 and a 200 day simple moving average of $54.39.

Insider Transactions at New Oriental Education & Technology Group

In other news, Director Yue Zhuge sold 1,600 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $59.55, for a total value of $95,280.00. Following the completion of the sale, the director owned 2,000 shares in the company, valued at $119,100. This represents a 44.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Chenggang Zhou sold 56,948 shares of New Oriental Education & Technology Group stock in a transaction on Monday, August 10th. The shares were sold at an average price of $56.83, for a total transaction of $3,236,354.84. Following the completion of the sale, the director directly owned 429,998 shares of the company’s stock, valued at approximately $24,436,786.34. The trade was a 11.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 72,170 shares of company stock worth $4,100,348. Company insiders own 15.50% of the company’s stock.

Institutional Trading of New Oriental Education & Technology Group

A number of hedge funds and other institutional investors have recently made changes to their positions in EDU. TD Waterhouse Canada Inc. boosted its holdings in New Oriental Education & Technology Group by 2.9% during the third quarter. TD Waterhouse Canada Inc. now owns 9,189 shares of the company’s stock worth $510,000 after buying an additional 259 shares during the last quarter. Ninety One UK Ltd acquired a new stake in shares of New Oriental Education & Technology Group during the third quarter worth $92,628,000. Ninety One North America Inc. bought a new stake in shares of New Oriental Education & Technology Group during the 3rd quarter valued at $21,740,000. WINTON GROUP Ltd acquired a new position in shares of New Oriental Education & Technology Group during the 2nd quarter worth $376,000. Finally, Carmignac Gestion increased its position in shares of New Oriental Education & Technology Group by 0.8% during the second quarter. Carmignac Gestion now owns 368,392 shares of the company’s stock valued at $16,921,000 after acquiring an additional 3,006 shares during the last quarter.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc (NYSE: EDU) is a China-based education services provider founded in 1993 by Michael Minhong Yu. The company operates schools, learning centers and online platforms that serve students, families and adult learners across China.

Its offerings have historically included test preparation for examinations such as the TOEFL, IELTS and other standardized tests; overseas study consulting; language training; educational services for primary and secondary students; adult and vocational education; and educational technology.