NINE MASTS CAPITAL Ltd Trims Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

NINE MASTS CAPITAL Ltd lowered its holdings in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 75.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,000 shares of the company’s stock after selling 9,375 shares during the period. NINE MASTS CAPITAL Ltd’s holdings in New Oriental Education & Technology Group were worth $229,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in EDU. Claro Advisors LLC grew its holdings in New Oriental Education & Technology Group by 5.3% in the 1st quarter. Claro Advisors LLC now owns 3,797 shares of the company’s stock valued at $330,000 after buying an additional 191 shares during the period. QRG Capital Management Inc. grew its holdings in New Oriental Education & Technology Group by 7.4% in the second quarter. QRG Capital Management Inc. now owns 3,666 shares of the company’s stock valued at $285,000 after purchasing an additional 254 shares during the period. Ridgewood Investments LLC purchased a new stake in New Oriental Education & Technology Group in the second quarter valued at approximately $43,000. Assetmark Inc. increased its position in New Oriental Education & Technology Group by 1,642.9% during the fourth quarter. Assetmark Inc. now owns 610 shares of the company’s stock worth $45,000 after purchasing an additional 575 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in New Oriental Education & Technology Group during the second quarter worth approximately $50,000.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on EDU shares. Citigroup dropped their price objective on New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a report on Friday, August 2nd. HSBC began coverage on New Oriental Education & Technology Group in a research note on Wednesday, May 29th. They set a “buy” rating and a $110.00 price target for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $103.67.

New Oriental Education & Technology Group Trading Down 1.4 %

NYSE:EDU opened at $60.77 on Thursday. The firm’s fifty day simple moving average is $69.06 and its 200 day simple moving average is $78.85. New Oriental Education & Technology Group Inc. has a twelve month low of $53.44 and a twelve month high of $98.20. The firm has a market capitalization of $10.31 billion, a price-to-earnings ratio of 32.67 and a beta of 0.46.

New Oriental Education & Technology Group (NYSE:EDU) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.19). New Oriental Education & Technology Group had a return on equity of 7.50% and a net margin of 7.18%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. On average, analysts predict that New Oriental Education & Technology Group Inc. will post 2.83 earnings per share for the current year.

New Oriental Education & Technology Group Announces Dividend

The company also recently disclosed a — dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be given a $0.58 dividend. The ex-dividend date of this dividend is Monday, September 9th.

About New Oriental Education & Technology Group

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.