Alkeon Capital Management LLC Sells 1,344 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Alkeon Capital Management LLC cut its stake in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) by 0.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,563,597 shares of the company’s stock after selling 1,344 shares during the quarter. Alkeon Capital Management LLC owned 0.92% of New Oriental Education & Technology Group worth $118,583,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in EDU. Swedbank AB bought a new stake in shares of New Oriental Education & Technology Group during the first quarter worth $6,171,000. Atria Investments Inc acquired a new position in New Oriental Education & Technology Group in the 1st quarter worth about $1,006,000. DekaBank Deutsche Girozentrale raised its position in New Oriental Education & Technology Group by 130.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 13,000 shares of the company’s stock valued at $1,109,000 after purchasing an additional 7,350 shares during the last quarter. QRG Capital Management Inc. raised its position 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 last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of New Oriental Education & Technology Group by 314.3% during the second quarter. SG Americas Securities LLC now owns 45,411 shares of the company’s stock valued at $3,530,000 after purchasing an additional 34,451 shares in the last quarter.

New Oriental Education & Technology Group Price Performance

New Oriental Education & Technology Group stock opened at $59.52 on Friday. The firm has a market cap of $10.10 billion, a P/E ratio of 25.44 and a beta of 0.49. The stock’s 50 day moving average is $65.28 and its 200 day moving average is $70.03. New Oriental Education & Technology Group Inc. has a one year low of $54.00 and a one year high of $98.20.

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

Wall Street Analysts Forecast Growth

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

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.