Key Points
- Director Chenggang Zhou sold 56,948 EDU shares at an average price of $56.83, generating approximately $3.24 million. The sale reduced his stake by 11.69% to 429,998 shares; he also sold 13,052 shares several days earlier.
- New Oriental shares were down 4.5%, opening at $55.46, with a market capitalization of about $8.76 billion and a 52-week range of $44.25 to $64.97.
- Analysts maintain a generally positive outlook, giving EDU a consensus “Moderate Buy” rating and a $64.54 target price, while institutional investors including Invesco and Discerene Group recently increased their positions.
New Oriental Education & Technology Group, Inc. (NYSE:EDU - Get Free Report) Director Chenggang Zhou sold 13,052 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $56.32, for a total value of $735,088.64. Following the sale, the director owned 486,946 shares in the company, valued at $27,424,798.72. The trade was a 2.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Chenggang Zhou also recently made the following trade(s):
- On Monday, August 10th, Chenggang Zhou sold 56,948 shares of New Oriental Education & Technology Group stock. The shares were sold at an average price of $56.83, for a total transaction of $3,236,354.84.
New Oriental Education & Technology Group Stock Down 4.5%
Shares of New Oriental Education & Technology Group stock opened at $55.46 on Wednesday. The company has a 50 day moving average price of $49.32 and a 200 day moving average price of $53.16. The firm has a market capitalization of $8.76 billion, a P/E ratio of 18.74, a PEG ratio of 0.62 and a beta of 0.24. New Oriental Education & Technology Group, Inc. has a 52 week low of $44.25 and a 52 week high of $64.97.
Analyst Ratings Changes
A number of research analysts have issued reports on EDU shares. Wall Street Zen cut shares of New Oriental Education & Technology Group from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. The Goldman Sachs Group raised shares of New Oriental Education & Technology Group from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $67.00 to $65.00 in a report on Thursday, June 11th. Weiss Ratings reissued a "hold (c)" rating on shares of New Oriental Education & Technology Group in a research report on Tuesday, July 21st. Finally, New Street Research set a $56.50 target price on New Oriental Education & Technology Group in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $64.54.
View Our Latest Report on EDU
Institutional Investors Weigh In On New Oriental Education & Technology Group
A number of large investors have recently bought and sold shares of EDU. Cerity Partners LLC purchased a new position in New Oriental Education & Technology Group during the 2nd quarter worth approximately $221,000. Sei Investments Co. lifted its stake in New Oriental Education & Technology Group by 46.6% during the 2nd quarter. Sei Investments Co. now owns 5,122 shares of the company's stock valued at $276,000 after acquiring an additional 1,629 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in New Oriental Education & Technology Group during the 2nd quarter valued at approximately $378,000. Quantinno Capital Management LP boosted its holdings in shares of New Oriental Education & Technology Group by 168.2% in the 2nd quarter. Quantinno Capital Management LP now owns 13,215 shares of the company's stock valued at $713,000 after acquiring an additional 8,287 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of New Oriental Education & Technology Group in the 2nd quarter valued at $111,000.
About New Oriental Education & Technology Group
(
Get Free Report)
New Oriental Education & Technology Group (NYSE: EDU) is one of China's leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company's offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental's curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.
Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.
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