Point72 Asset Management L.P. Makes New Investment in Gaotu Techedu Inc. (NYSE:GOTU)

Point72 Asset Management L.P. acquired a new position in shares of Gaotu Techedu Inc. (NYSE:GOTU - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 156,800 shares of the company's stock, valued at approximately $343,000. Point72 Asset Management L.P. owned about 0.06% of Gaotu Techedu as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOTU. Catalyst Funds Management Pty Ltd acquired a new position in shares of Gaotu Techedu in the 4th quarter valued at $38,000. Two Sigma Securities LLC acquired a new position in shares of Gaotu Techedu in the 4th quarter valued at $86,000. Lighthouse Investment Partners LLC acquired a new position in shares of Gaotu Techedu in the 4th quarter valued at $103,000. Barclays PLC lifted its stake in shares of Gaotu Techedu by 195.8% in the 4th quarter. Barclays PLC now owns 215,982 shares of the company's stock valued at $473,000 after purchasing an additional 142,974 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Gaotu Techedu in the 4th quarter valued at $781,000. Institutional investors and hedge funds own 48.42% of the company's stock.

Gaotu Techedu Price Performance

Shares of GOTU stock traded down $0.05 on Wednesday, hitting $3.61. The stock had a trading volume of 795,842 shares, compared to its average volume of 2,227,871. The firm has a market capitalization of $912.74 million, a P/E ratio of -6.32 and a beta of 0.29. Gaotu Techedu Inc. has a 1 year low of $1.87 and a 1 year high of $6.48. The company's 50 day moving average price is $3.17 and its 200-day moving average price is $2.81.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.12. The firm had revenue of $28.53 million for the quarter, compared to the consensus estimate of $189.76 million. Gaotu Techedu had a negative return on equity of 37.79% and a negative net margin of 26.36%.

Gaotu Techedu announced that its board has initiated a stock buyback plan on Thursday, May 15th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

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.