New Oriental Education & Technology Group (NYSE:EDU) Shares to Reverse Split on Friday, April 8th


New Oriental Education & Technology Group Inc. (NYSE:EDUGet Rating) shares are scheduled to reverse split on the morning of Friday, April 8th. The 1-10 reverse split was announced on Friday, April 8th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, April 8th.

Shares of New Oriental Education & Technology Group stock opened at $1.25 on Wednesday. The firm has a market capitalization of $2.12 billion, a PE ratio of 6.19 and a beta of 0.93. New Oriental Education & Technology Group has a twelve month low of $0.84 and a twelve month high of $16.88. The firm’s 50-day moving average price is $1.34 and its 200 day moving average price is $1.80.

A number of research analysts have weighed in on EDU shares. StockNews.com began coverage on shares of New Oriental Education & Technology Group in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. Zacks Investment Research upgraded shares of New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a report on Monday, March 14th. Finally, Daiwa Capital Markets upgraded shares of New Oriental Education & Technology Group from a “neutral” rating to a “buy” rating in a report on Wednesday, March 9th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $18.10.

Several institutional investors have recently added to or reduced their stakes in EDU. Morgan Stanley lifted its position in New Oriental Education & Technology Group by 196.3% in the third quarter. Morgan Stanley now owns 54,714,708 shares of the company’s stock valued at $112,165,000 after acquiring an additional 36,248,561 shares during the last quarter. National Bank of Canada FI purchased a new stake in New Oriental Education & Technology Group in the fourth quarter valued at $74,058,000. Carmignac Gestion lifted its position in New Oriental Education & Technology Group by 294.9% in the third quarter. Carmignac Gestion now owns 39,165,819 shares of the company’s stock valued at $80,212,000 after acquiring an additional 29,247,393 shares during the last quarter. Two Sigma Investments LP lifted its position in New Oriental Education & Technology Group by 626.4% in the third quarter. Two Sigma Investments LP now owns 30,108,015 shares of the company’s stock valued at $61,721,000 after acquiring an additional 25,962,977 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in New Oriental Education & Technology Group by 2,189.1% in the third quarter. Two Sigma Advisers LP now owns 24,157,200 shares of the company’s stock valued at $49,522,000 after acquiring an additional 23,101,900 shares during the last quarter. 74.03% of the stock is owned by institutional investors and hedge funds.

About New Oriental Education & Technology Group (Get Rating)

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. It operates through K-12 AST, Test Preparation and Other Courses; Online Education; and Others segments. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People’s Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to enhance their exam scores, as well as for children to teach English.

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