Hancock Whitney Corp Grows Position in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Hancock Whitney Corp raised its position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 49.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,075 shares of the company’s stock after acquiring an additional 1,348 shares during the period. Hancock Whitney Corp’s holdings in New Oriental Education & Technology Group were worth $309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC lifted its stake in shares of New Oriental Education & Technology Group by 5.5% in the 2nd quarter. Renaissance Technologies LLC now owns 3,175,554 shares of the company’s stock valued at $246,836,000 after purchasing an additional 164,600 shares during the last quarter. WT Asset Management Ltd raised its stake in shares of New Oriental Education & Technology Group by 21.4% in the second quarter. WT Asset Management Ltd now owns 1,730,772 shares of the company’s stock valued at $134,533,000 after acquiring an additional 304,712 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of New Oriental Education & Technology Group by 3.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,480,400 shares of the company’s stock worth $115,071,000 after acquiring an additional 56,100 shares during the last quarter. Farallon Capital Management LLC boosted its stake in shares of New Oriental Education & Technology Group by 139.0% during the 2nd quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock worth $114,231,000 after purchasing an additional 854,590 shares during the period. Finally, Point72 Hong Kong Ltd grew its holdings in New Oriental Education & Technology Group by 16.6% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,380,199 shares of the company’s stock valued at $107,283,000 after purchasing an additional 196,133 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup decreased their price objective on shares of New Oriental Education & Technology Group from $127.00 to $106.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. StockNews.com upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Morgan Stanley set a $83.00 price objective on New Oriental Education & Technology Group in a research report on Thursday, October 17th.

New Oriental Education & Technology Group Price Performance

Shares of EDU stock opened at $59.52 on Thursday. The company’s 50-day simple moving average is $65.30 and its two-hundred day simple moving average is $70.10. New Oriental Education & Technology Group Inc. has a one year low of $54.00 and a one year high of $98.20. The company has a market capitalization of $10.10 billion, a P/E ratio of 25.24 and a beta of 0.49.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.33 by $0.27. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the business posted $0.99 EPS. New Oriental Education & Technology Group’s quarterly revenue was up 30.5% on a year-over-year basis. On average, research analysts expect that New Oriental Education & Technology Group Inc. will post 2.94 EPS for the current fiscal year.

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.