Singapore's GIC Ups Its EDU Stake to 7.5%

GIC Private Ltd's recent 13G filing reveals a significant increase in its stake in New Oriental Education & Technology Group $EDU, from 5.03% to 7.47%.

Singapore's sovereign wealth fund focuses on a long-term, diversified investment strategy across sectors like technology, financials, real estate, and healthcare.

Here’s The Hot Corner, with data from October 29, 2024:

Yesterday, director William Fisher of Winnebago Industries $WGO revealed a purchase of $109,620.

Today, the WGO president and CEO reported an acquisition of 2,500 shares.

With the stock falling steadily all year, these small purchases feel more like “vote of confidence” buys than anything. 

The CEO and company directors will often come out and buy an insignificant amount of stock as a show of good faith in tough times. 

Regardless, we’ll add it to our watchlist, and when WGO offers a favorable risk/reward, we will step in.

When it comes to the EDU chart, after filling that GAP from 2021, price has been consolidating in a sideways range around the 38.2% retracement, building what looks like a topping formation.