5 Best Education Stocks To Buy In 2024

Page 5 of 5

1. New Oriental Education & Technology Group Inc. (NYSE:EDU)

Number of Hedge Fund Holders: 39

New Oriental Education & Technology Group Inc. (NYSE:EDU), based in China, provides private educational services under the New Oriental brand. The company operates in four segments – Educational Services and Test Preparation Courses, Online Education and Other Services, Overseas Study Consulting Services, and Educational Materials and Distribution. New Oriental Education & Technology Group Inc. (NYSE:EDU) is one of the top education stocks to invest in. 

On January 24, New Oriental Education & Technology Group Inc. (NYSE:EDU) reported its financial results for the second fiscal quarter of 2024 ended November 30, 2023. The company announced a non-GAAP EPADS of $0.29 and a revenue of $869.6 million, outperforming Wall Street estimates by $0.01 and $58.28 million, respectively. 

According to Insider Monkey’s fourth quarter database, 39 hedge funds were bullish on New Oriental Education & Technology Group Inc. (NYSE:EDU), compared to 34 funds in the prior quarter. Liu Xuan’s Keystone Investors is the leading stakeholder of the company, with 1.4 million shares worth $104.75 million. 

Ariel Global Fund made the following comment about New Oriental Education & Technology Group Inc. (NYSE:EDU) in its Q2 2023 investor letter:

“We added a new investment position inNew Oriental Education & Technology Group Inc. (NYSE:EDU), a leading after school tutoring program in China. Although the Chinese government banned K-12 academic after school tutoring, the company was able to leverage its expertise in course content quality control and standardized tutoring processes to quickly reposition itself as a leader of non-academic after school tutoring. Furthermore, we anticipate the company’s strong brand and the entrepreneurial acumen of its founder, Michael Yu, will create additional opportunities for expansion as a comprehensive educational service provider.”

Follow New Oriental Education & Technology Group Inc. (NYSE:EDU)

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also check out 12 $10 Stocks That Will Triple and Michael Burry’s 2024 Portfolio: 12 New Stock Picks.

Page 5 of 5