Home » BlackRock Inc. Raises Stake in New Oriental Education & Technology Group, Inc. (EDU)
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BlackRock Inc. Raises Stake in New Oriental Education & Technology Group, Inc. (EDU)

BlackRock Inc. raised its position in New Oriental Education & Technology Group, Inc. (NYSE:EDU) by 6.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 117,329 shares of the company’s stock after buying an additional 7,009 shares during the period. BlackRock Inc. owned approximately 0.07% of New Oriental Education & Technology Group worth $5,439,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Vontobel Asset Management Inc. acquired a new stake in New Oriental Education & Technology Group during the third quarter worth about $243,720,000. FMR LLC raised its stake in shares of New Oriental Education & Technology Group by 24.8% in the second quarter. FMR LLC now owns 6,316,552 shares of the company’s stock worth $264,537,000 after buying an additional 1,254,026 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of New Oriental Education & Technology Group by 13.0% in the second quarter.

Schroder Investment Management Group now owns 10,194,277 shares of the company’s stock worth $426,936,000 after buying an additional 1,170,618 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of New Oriental Education & Technology Group by 46.5% in the second quarter. Alliancebernstein L.P. now owns 3,428,135 shares of the company’s stock worth $143,570,000 after buying an additional 1,088,356 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of New Oriental Education & Technology Group by 99.9% in the second quarter. BlackRock Fund Advisors now owns 1,788,153 shares of the company’s stock worth $74,888,000 after buying an additional 893,605 shares in the last quarter. 77.76% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently issued reports on EDU shares. Zacks Investment Research raised shares of New Oriental Education & Technology Group from a “hold” rating to a “strong-buy” rating and set a $55.00 price objective for the company in a report on Monday, November 14th. Brean Capital upped their price objective on shares of New Oriental Education & Technology Group to $60.00 and gave the company a “buy” rating in a report on Wednesday, October 26th.

Daiwa Capital Markets started coverage on shares of New Oriental Education & Technology Group in a report on Monday, October 10th. They issued a “buy” rating for the company. Finally, Jefferies Group reissued a “buy” rating and issued a $60.00 price objective on shares of New Oriental Education & Technology Group in a report on Tuesday, December 6th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $44.60.