Point72 Asset Management L.P. Acquires Shares of 156,800 Gaotu Techedu Inc. (NYSE:GOTU)

Point72 Asset Management L.P. purchased a new stake in Gaotu Techedu Inc. (NYSE:GOTU - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 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 & Exchange Commission.

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

Gaotu Techedu Stock Up 6.8%

Shares of NYSE:GOTU traded up $0.25 during trading on Thursday, hitting $3.84. The stock had a trading volume of 387,121 shares, compared to its average volume of 2,221,548. Gaotu Techedu Inc. has a 12-month low of $1.87 and a 12-month high of $6.14. The stock has a market capitalization of $970.98 million, a price-to-earnings ratio of -6.71 and a beta of 0.29. The stock has a 50-day simple moving average of $3.18 and a two-hundred day simple moving average of $2.81.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.12. The firm had revenue of $28.53 million for the quarter, compared to analyst estimates 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 of Directors has approved a stock repurchase plan on Thursday, May 15th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

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.