Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires New Stake in Gaotu Techedu Inc. $GOTU

Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Gaotu Techedu Inc. (NYSE:GOTU) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 117,718 shares of the company’s stock, valued at approximately $425,000.

A number of other institutional investors also recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new position in shares of Gaotu Techedu during the second quarter valued at about $3,865,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Gaotu Techedu by 86.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 563,082 shares of the company’s stock valued at $2,033,000 after acquiring an additional 261,190 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Gaotu Techedu by 284.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 200,984 shares of the company’s stock valued at $726,000 after purchasing an additional 148,747 shares during the last quarter. Cornerstone Investment Partners LLC bought a new stake in Gaotu Techedu during the 2nd quarter worth approximately $138,000. Finally, National Bank of Canada FI bought a new stake in Gaotu Techedu during the 1st quarter worth approximately $1,788,000. Institutional investors and hedge funds own 48.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated 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, Based on data from MarketBeat, Gaotu Techedu presently has a consensus rating of “Sell”.

Gaotu Techedu Stock Performance

Shares of Gaotu Techedu stock opened at $2.41 on Thursday. Gaotu Techedu Inc. has a 52-week low of $1.87 and a 52-week high of $4.56. The stock’s 50-day simple moving average is $2.98 and its 200 day simple moving average is $3.47. The stock has a market capitalization of $608.92 million, a P/E ratio of -6.33 and a beta of 0.13.

Gaotu Techedu (NYSE:GOTU) last posted its earnings results on Tuesday, August 26th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.04. Gaotu Techedu had a negative return on equity of 37.66% and a negative net margin of 12.97%.The firm had revenue of $27.09 million for the quarter, compared to the consensus estimate of $182.85 million.

Gaotu Techedu Profile

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.