Bank of America Corp DE lessened its holdings in shares of New Oriental Education & Tech Grp (NYSE:EDU) by 6.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,123,711 shares of the company’s stock after selling 82,813 shares during the quarter. Bank of America Corp DE’s holdings in New Oriental Education & Tech Grp were worth $106,371,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Atlas Capital Advisors LLC purchased a new position in New Oriental Education & Tech Grp during the 2nd quarter valued at about $187,000. Wedbush Securities Inc. acquired a new stake in shares of New Oriental Education & Tech Grp during the 2nd quarter valued at about $218,000. Natixis acquired a new stake in shares of New Oriental Education & Tech Grp during the 1st quarter valued at about $222,000. Flow Traders U.S. LLC acquired a new stake in shares of New Oriental Education & Tech Grp during the 1st quarter valued at about $231,000. Finally, HMS Capital Management LLC acquired a new stake in shares of New Oriental Education & Tech Grp during the 2nd quarter valued at about $251,000. 88.80% of the stock is currently owned by institutional investors.

Shares of New Oriental Education & Tech Grp stock opened at $68.76 on Tuesday. The stock has a market cap of $9.95 billion, a PE ratio of 36.77, a PEG ratio of 0.93 and a beta of 1.20. New Oriental Education & Tech Grp has a 52-week low of $67.85 and a 52-week high of $108.40.

New Oriental Education & Tech Grp (NYSE:EDU) last announced its quarterly earnings results on Tuesday, July 24th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The business had revenue of $701.00 million during the quarter, compared to analyst estimates of $672.44 million. New Oriental Education & Tech Grp had a return on equity of 14.79% and a net margin of 12.10%. The firm’s revenue was up 44.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 EPS. sell-side analysts anticipate that New Oriental Education & Tech Grp will post 2.58 earnings per share for the current year.

Several equities research analysts have recently issued reports on EDU shares. Zacks Investment Research upgraded New Oriental Education & Tech Grp from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a report on Tuesday, June 26th. ValuEngine upgraded New Oriental Education & Tech Grp from a “hold” rating to a “buy” rating in a report on Wednesday, May 23rd. JPMorgan Chase & Co. lifted their price target on New Oriental Education & Tech Grp from $90.00 to $102.00 and gave the company a “neutral” rating in a report on Tuesday, May 29th. Finally, CLSA lowered New Oriental Education & Tech Grp from an “outperform” rating to an “underperform” rating in a report on Thursday, May 24th. Three analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $105.55.

About New Oriental Education & Tech Grp

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through Language Training and Test Preparation, Primary and Secondary School Education, Online Education, Content Development and Distribution, Pre-School Education, Overseas Study Consulting Services, and Study Tour segments.

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

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