New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lessened its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 12.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 111,665 shares of the company’s stock after selling 15,163 shares during the quarter. Lazard Asset Management LLC’s holdings in New Oriental Education & Technology Group were worth $9,694,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Assetmark Inc. lifted its stake in shares of New Oriental Education & Technology Group by 1,642.9% during the 4th quarter. Assetmark Inc. now owns 610 shares of the company’s stock worth $45,000 after purchasing an additional 575 shares during the period. Yousif Capital Management LLC purchased a new position in shares of New Oriental Education & Technology Group during the 1st quarter worth $231,000. Jump Financial LLC purchased a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth $235,000. Panagora Asset Management Inc. purchased a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth $240,000. Finally, QRG Capital Management Inc. purchased a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth $271,000.

New Oriental Education & Technology Group Stock Performance

Shares of EDU traded up $3.07 during trading hours on Friday, hitting $73.40. The stock had a trading volume of 2,563,096 shares, compared to its average volume of 1,361,001. The firm has a market cap of $12.46 billion, a P/E ratio of 39.46 and a beta of 0.44. The company’s fifty day simple moving average is $77.17 and its 200 day simple moving average is $82.53. New Oriental Education & Technology Group Inc. has a 12-month low of $49.94 and a 12-month high of $98.20.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings data on Wednesday, April 24th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.06). New Oriental Education & Technology Group had a net margin of 7.72% and a return on equity of 8.11%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.09 billion. As a group, sell-side analysts predict that New Oriental Education & Technology Group Inc. will post 1.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EDU. Citigroup increased their price target on New Oriental Education & Technology Group from $66.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. HSBC started coverage on New Oriental Education & Technology Group in a research report on Wednesday, May 29th. They issued a “buy” rating and a $110.00 target price on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $110.67.

New Oriental Education & Technology Group Company Profile

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 four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.