Prudential Financial Inc. increased its stake in New Oriental Education & Tech Grp (NYSE:EDU) by 581.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 53,519 shares of the company’s stock after buying an additional 45,669 shares during the period. Prudential Financial Inc.’s holdings in New Oriental Education & Tech Grp were worth $5,169,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Huntington National Bank boosted its position in shares of New Oriental Education & Tech Grp by 19.5% in the second quarter. Huntington National Bank now owns 570 shares of the company’s stock worth $55,000 after acquiring an additional 93 shares during the last quarter. Wetherby Asset Management Inc. lifted its position in New Oriental Education & Tech Grp by 4.7% during the second quarter. Wetherby Asset Management Inc. now owns 4,059 shares of the company’s stock valued at $392,000 after buying an additional 183 shares in the last quarter. Advisory Services Network LLC lifted its position in New Oriental Education & Tech Grp by 20.7% during the second quarter. Advisory Services Network LLC now owns 1,071 shares of the company’s stock valued at $104,000 after buying an additional 184 shares in the last quarter. Rehmann Capital Advisory Group lifted its position in New Oriental Education & Tech Grp by 145.7% during the first quarter. Rehmann Capital Advisory Group now owns 312 shares of the company’s stock valued at $28,000 after buying an additional 185 shares in the last quarter. Finally, Cornerstone Advisors Inc. lifted its position in New Oriental Education & Tech Grp by 96.5% during the first quarter. Cornerstone Advisors Inc. now owns 454 shares of the company’s stock valued at $41,000 after buying an additional 223 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have weighed in on EDU. Zacks Investment Research cut shares of New Oriental Education & Tech Grp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 25th. Morgan Stanley lifted their price target on shares of New Oriental Education & Tech Grp from $95.00 to $106.00 and gave the company a “positive” rating in a research report on Friday, June 14th. Finally, ValuEngine cut shares of New Oriental Education & Tech Grp from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $92.73.

EDU stock traded up $1.23 during midday trading on Friday, reaching $110.10. 10,142 shares of the company’s stock traded hands, compared to its average volume of 1,055,180. The company has a market capitalization of $15.60 billion, a P/E ratio of 73.07, a PEG ratio of 1.07 and a beta of 1.46. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.73 and a quick ratio of 1.71. New Oriental Education & Tech Grp has a fifty-two week low of $50.30 and a fifty-two week high of $115.88. The business has a 50-day moving average price of $106.65 and a two-hundred day moving average price of $93.07.

New Oriental Education & Tech Grp (NYSE:EDU) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.39). The firm had revenue of $842.90 million for the quarter, compared to analysts’ expectations of $833.78 million. New Oriental Education & Tech Grp had a net margin of 7.69% and a return on equity of 12.97%. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 EPS. As a group, research analysts forecast that New Oriental Education & Tech Grp will post 3.02 earnings per share for the current fiscal year.

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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