Advisors Asset Management Inc. Increases Stake in New Oriental Education & Tech Grp (EDU)

Advisors Asset Management Inc. increased its holdings in New Oriental Education & Tech Grp (NYSE:EDU) by 754.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,999 shares of the company’s stock after purchasing an additional 4,414 shares during the period. Advisors Asset Management Inc.’s holdings in New Oriental Education & Tech Grp were worth $123,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. California Public Employees Retirement System boosted its position in New Oriental Education & Tech Grp by 39.5% during the 2nd quarter. California Public Employees Retirement System now owns 299,810 shares of the company’s stock valued at $28,380,000 after buying an additional 84,918 shares during the period. Castleark Management LLC boosted its position in New Oriental Education & Tech Grp by 305.1% during the 2nd quarter. Castleark Management LLC now owns 10,330 shares of the company’s stock valued at $978,000 after buying an additional 7,780 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in New Oriental Education & Tech Grp by 75.0% during the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 5,600 shares of the company’s stock valued at $530,000 after buying an additional 2,400 shares during the period. Zurich Insurance Group Ltd FI boosted its position in New Oriental Education & Tech Grp by 19.3% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 32,792 shares of the company’s stock valued at $3,104,000 after buying an additional 5,315 shares during the period. Finally, Colony Group LLC purchased a new stake in New Oriental Education & Tech Grp during the 2nd quarter valued at $669,000. 88.79% of the stock is owned by institutional investors.

Shares of EDU opened at $61.60 on Tuesday. The firm has a market cap of $10.55 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 0.99 and a beta of 1.15. New Oriental Education & Tech Grp has a twelve month low of $58.17 and a twelve month high of $108.40.

New Oriental Education & Tech Grp (NYSE:EDU) last posted its earnings results on Tuesday, July 24th. The company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. New Oriental Education & Tech Grp had a net margin of 12.10% and a return on equity of 15.17%. The firm had revenue of $701.00 million during the quarter, compared to analysts’ expectations of $672.44 million. During the same period last year, the company posted $0.41 EPS. The company’s quarterly revenue was up 44.1% compared to the same quarter last year. As a group, equities research analysts expect that New Oriental Education & Tech Grp will post 2.58 earnings per share for the current fiscal year.

Several equities research analysts have weighed in on the stock. ValuEngine cut shares of New Oriental Education & Tech Grp from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. CLSA raised shares of New Oriental Education & Tech Grp from an “underperform” rating to a “buy” rating in a research report on Monday. JPMorgan Chase & Co. raised shares of New Oriental Education & Tech Grp from a “neutral” rating to an “overweight” rating in a research report on Thursday, July 26th. Zacks Investment Research raised shares of New Oriental Education & Tech Grp from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a research report on Tuesday, June 26th. Finally, Morgan Stanley cut shares of New Oriental Education & Tech Grp from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. New Oriental Education & Tech Grp has a consensus rating of “Buy” and a consensus price target of $107.80.

About New Oriental Education & Tech Grp

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 Language Training and Test Preparation, Primary and Secondary School Education, Online Education, Content Development and Distribution, Pre-School Education, Overseas Study Consulting Services, and Study Tour segments.

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Institutional Ownership by Quarter for New Oriental Education & Tech Grp (NYSE:EDU)

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