New Oriental (EDU)

• Market cap: $10B
• 1 day: 2.05%
• 5 days: 4.40%
• 1 month: 8.02%
• 3 months: -2.36%
• 6 months: -14.88%
• Year to date: -13.93%
• 1 year: -15.21%
• 5 years: -50.48%
• 10 years: 199.46%

About: New Oriental is a leading private education provider in China. K-9 academic after-school tutoring used to account for 50%-60% of New Oriental's revenue before the regulatory crackdown in 2021. After terminating its K-9 academic after-school tutoring business, New Oriental has identified a few new initiatives such as nonacademic tutoring and intelligent learning systems and devices. The remaining businesses include high school academic after-school tutoring and overseas-related test preparation and consulting business. The company also owns 55% of East Buy, a market leader in livestreaming e-commerce.

Employees: 75,005

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

46% more call options, than puts

Call options by funds: $53.9M | Put options by funds: $36.9M

0.45% less ownership

Funds ownership: 4.32% [Q2] → 3.86% (-0.45%) [Q3]

7% less funds holding

Funds holding: 227 [Q2] → 212 (-15) [Q3]

12% less funds holding in top 10

Funds holding in top 10: 26 [Q2] → 23 (-3) [Q3]

12% less repeat investments, than reductions

Existing positions increased: 69 | Existing positions reduced: 78

14% less capital invested

Capital invested by funds: $5.56B [Q2] → $4.79B (-$769M) [Q3]

28% less first-time investments, than exits

New positions opened: 38 | Existing positions closed: 53