Shah Capital Management Makes New $60.66 Million Investment in New Oriental Education & Technology Group Inc. (NYSE:EDU)

Shah Capital Management purchased a new position in New Oriental Education & Technology Group Inc. (NYSE:EDU) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 827,770 shares of the company’s stock, valued at approximately $60,659,000. New Oriental Education & Technology Group comprises 15.5% of Shah Capital Management’s investment portfolio, making the stock its 2nd largest position. Shah Capital Management owned about 0.49% of New Oriental Education & Technology Group as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tobam acquired a new stake in New Oriental Education & Technology Group in the 4th quarter worth $3,979,000. FengHe Fund Management Pte. Ltd. acquired a new stake in shares of New Oriental Education & Technology Group during the 4th quarter valued at about $2,037,000. Ariose Capital Management Ltd acquired a new stake in shares of New Oriental Education & Technology Group during the 4th quarter valued at about $30,631,000. Clearbridge Investments LLC boosted its position in shares of New Oriental Education & Technology Group by 14.7% during the 3rd quarter. Clearbridge Investments LLC now owns 65,002 shares of the company’s stock valued at $3,806,000 after acquiring an additional 8,306 shares in the last quarter. Finally, XY Capital Ltd boosted its position in shares of New Oriental Education & Technology Group by 376.4% during the 3rd quarter. XY Capital Ltd now owns 102,903 shares of the company’s stock valued at $6,025,000 after acquiring an additional 81,303 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EDU. Citigroup lifted their target price on shares of New Oriental Education & Technology Group from $66.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley lifted their target price on shares of New Oriental Education & Technology Group from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, StockNews.com lowered shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.67.

New Oriental Education & Technology Group Trading Down 1.2 %

EDU stock traded down $0.97 during trading on Monday, hitting $82.29. 1,901,871 shares of the stock traded hands, compared to its average volume of 1,819,301. New Oriental Education & Technology Group Inc. has a one year low of $35.70 and a one year high of $98.20. The stock has a market cap of $13.96 billion, a price-to-earnings ratio of 44.25 and a beta of 0.49. The company has a 50 day simple moving average of $89.12 and a 200 day simple moving average of $79.20.

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.