New Oriental Education & Technology Group Inc., operating under the renowned New Oriental brand, is a provider of private educational services based in the People’s Republic of China. The company offers various educational programs through its segments including Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Others.

As an established player in China’s education sector, New Oriental Education & Technology Group has built a strong reputation for delivering high-quality educational services. The company aims to empower Chinese students by providing them with access to comprehensive learning programs and resources.

With this significant increase in holdings by Connor Clark & Lunn Investment Management Ltd., it is evident that they have confidence in the potential growth and future prospects of New Oriental Education & Technology Group Inc. This move also signals their belief in the long-term viability and profitability of the education industry in China.

Investors should take note of this development as it suggests a positive outlook for New Oriental Education & Technology Group Inc.’s stock performance. However, prudent analysis and due diligence are always recommended before making any investment decisions.

The increased involvement of institutional investors like Connor Clark & Lunn Investment Management Ltd. also adds credibility to New Oriental Education & Technology Group Inc.’s operations and management team. It indicates that seasoned investors recognize the company’s ability to deliver on its promises and generate returns for its shareholders.

It will be interesting to monitor the future moves of Connor Clark & Lunn Investment Management Ltd., as well as the performance of New Oriental Education & Technology Group Inc. in the coming months. This investment provides a vote of confidence in the company’s growth prospects and serves as an indicator of potential opportunities for other interested investors.

In conclusion, Connor Clark & Lunn Investment Management Ltd.’s substantial increase in holdings in New Oriental Education & Technology Group Inc. reflects their positive view on the company’s future outlook. The investment showcases faith in China’s education sector and affirms New Oriental Education & Technology Group Inc.’s position as a reputable provider of private educational services. As with any investment, careful evaluation is advised, but this announcement may attract attention from other investors seeking opportunities within the Chinese education industry.

Hedge Funds and Institutional Investors Show Confidence in New Oriental Education & Technology Group

On August 18, 2023, it was reported that several hedge funds have made significant changes to their holdings of New Oriental Education & Technology Group (NYSE: EDU). Eaton Vance Management saw a substantial increase in its ownership of the company’s shares during the first quarter, with a staggering 306.7% rise. The firm now holds 22,543 shares of the stock, worth approximately $26,000, after acquiring an additional 17,000 shares in the previous quarter.

In addition to Eaton Vance Management, Royal Bank of Canada also boosted its holdings in New Oriental Education & Technology Group by 13.6% during the first quarter. The bank now possesses 44,215 shares of the company’s stock, valued at around $51,000 after acquiring an additional 5,299 shares.

Clear Street Markets LLC entered the picture as well by purchasing a new stake in New Oriental Education & Technology Group during the fourth quarter for about $58,000. Similarly, 1832 Asset Management L.P also took a chance on the company and acquired a new stake during the same period for approximately $59,000. Finally, James Investment Research Inc. decided to invest in New Oriental Education & Technology Group during the first quarter with an amount totaling around $64,000.

When examining ownership of New Oriental Education & Technology Group stock as a whole within institutional investors and hedge funds combined, it becomes evident that they own roughly 90.13% of all outstanding shares available.

Various brokerages have recently released reports on EDU as well. A report from StockNews.com provided coverage on New Oriental Education & Technology Group while assigning a “buy” rating to the stock. TheStreet upgraded their rating on July 26th from “d+” to “c-” for New Oriental Education & Technology Group in one of their research reports. UBS Group also issued a research report where they increased their target price from $65.00 to $71.00 for the company on July 27th.

As for the stock itself, New Oriental Education & Technology Group (NYSE: EDU) opened at $51.88 per share on Friday. The company currently boasts a market capitalization of $8.80 billion with a P/E ratio of 50.37 and a beta of 0.67.

In terms of its performance over time, New Oriental Education & Technology Group has seen fluctuating prices with a fifty-two week low of $17.01 and a fifty-two week high of $57.94. It is important to note that the stock’s 50-day moving average price stands at $46.18, whereas its 200-day moving average price is $42.22.

Finally, New Oriental Education & Technology Group recently announced its quarterly earnings data on July 26th. The company reported an EPS (earnings per share) of $0.22 for the quarter, falling short of the consensus estimate by ($0.90). However, it generated revenue amounting to an impressive $860.57 million during the same period, surpassing the consensus estimate of $827.96 million.

Despite missing EPS estimates, New Oriental Education & Technology Group still achieved a net margin of 5.92% and a return on equity (ROE) of 4.67%. Analysts in this sector predict that the company will post an EPS of 1.86 for this year.

Overall, it is clear that New Oriental Education & Technology Group has seen significant movement in its holdings from hedge funds and institutional investors alike in recent quarters, indicating confidence in the future prospects of the company within this particular investment community.

The post Connor Clark & Lunn Investment Management Ltd. Shows Confidence in New Oriental Education & Technology Group Inc. with Significant Increase in Holdings appeared first on Best Stocks.