Acadian Asset Management LLC acquired a new position in Gaotu Techedu Inc. (NYSE:GOTU – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,074,917 shares of the company’s stock, valued at approximately $3,865,000. Acadian Asset Management LLC owned approximately 0.42% of Gaotu Techedu as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in GOTU. Prime Capital Investment Advisors LLC acquired a new stake in shares of Gaotu Techedu in the 2nd quarter valued at approximately $36,000. Cornerstone Investment Partners LLC bought a new position in shares of Gaotu Techedu during the 2nd quarter worth about $138,000. Virtu Financial LLC acquired a new position in Gaotu Techedu during the first quarter worth $137,000. XTX Topco Ltd bought a new position in Gaotu Techedu during the 1st quarter valued at $205,000. Finally, Invesco Ltd. boosted its position in Gaotu Techedu by 2.3% in the first quarter. Invesco Ltd. now owns 126,090 shares of the company’s stock worth $410,000 after purchasing an additional 2,876 shares during the last quarter. 48.42% of the stock is currently owned by institutional investors and hedge funds.
Gaotu Techedu Stock Performance
Shares of NYSE GOTU opened at $2.62 on Friday. The firm’s 50 day moving average price is $3.18 and its 200-day moving average price is $3.52. Gaotu Techedu Inc. has a 52-week low of $1.87 and a 52-week high of $4.56. The company has a market cap of $662.35 million, a PE ratio of -6.88 and a beta of 0.13.
Analysts Set New Price Targets
Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Gaotu Techedu in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.
Get Our Latest Research Report on GOTU
About Gaotu Techedu
Gaotu Techedu Inc, a technology-driven education company, provides learning services, educational content, and digitalized learning products in the People's Republic of China. The company offers traditional online academic subject tutoring services that covers academic subjects, such as mathematics, English, Chinese, physics, chemistry, biology, history, geography, and political science for students; non-academic tutoring services; personal interest courses comprising chess learning, family relationships and education, humanities, and science courses; and professional courses primarily for college students and adults preparing for professional qualification exams, such as teacher's qualification, Chartered Financial Analyst designation, Certified Public Accountant designation, and other exams.
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