New Oriental Education & Technology Group Inc. (NYSE:EDU) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its position in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 397,546 shares of the company’s stock after selling 8,963 shares during the quarter. Wellington Management Group LLP’s holdings in New Oriental Education & Technology Group were worth $30,150,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC boosted its holdings in New Oriental Education & Technology Group by 11.9% in the third quarter. Janus Henderson Group PLC now owns 30,895 shares of the company’s stock worth $2,342,000 after purchasing an additional 3,287 shares during the period. Centiva Capital LP bought a new position in New Oriental Education & Technology Group in the 3rd quarter worth about $1,261,000. Aspex Management HK Ltd increased its stake in shares of New Oriental Education & Technology Group by 46.7% in the third quarter. Aspex Management HK Ltd now owns 4,753,340 shares of the company’s stock valued at $360,493,000 after purchasing an additional 1,513,640 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of New Oriental Education & Technology Group by 49.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 180,151 shares of the company’s stock valued at $13,663,000 after buying an additional 59,429 shares during the last quarter. Finally, Flow Traders U.S. LLC acquired a new position in shares of New Oriental Education & Technology Group during the third quarter worth approximately $320,000.

Analysts Set New Price Targets

Several brokerages have weighed in on EDU. Morgan Stanley set a $83.00 target price on New Oriental Education & Technology Group in a research note on Thursday, October 17th. StockNews.com upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th.

New Oriental Education & Technology Group Price Performance

Shares of NYSE:EDU opened at $62.53 on Friday. The stock has a market cap of $10.61 billion, a price-to-earnings ratio of 26.72 and a beta of 0.46. New Oriental Education & Technology Group Inc. has a 12 month low of $54.00 and a 12 month high of $98.20. The stock’s 50 day moving average price is $63.70 and its 200 day moving average price is $68.57.

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

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.