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

Point72 Asset Management L.P. acquired a new stake in shares of Gaotu Techedu Inc. (NYSE:GOTU - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Gaotu Techedu in the 4th quarter worth approximately $3,583,000. Marshall Wace LLP acquired a new stake in shares of Gaotu Techedu in the 4th quarter worth approximately $781,000. Barclays PLC grew its holdings in shares of Gaotu Techedu by 195.8% in the 4th quarter. Barclays PLC now owns 215,982 shares of the company's stock worth $473,000 after acquiring an additional 142,974 shares during the period. Lighthouse Investment Partners LLC acquired a new stake in shares of Gaotu Techedu in the 4th quarter worth approximately $103,000. Finally, Two Sigma Securities LLC purchased a new stake in Gaotu Techedu in the 4th quarter valued at approximately $86,000. Institutional investors and hedge funds own 48.42% of the company's stock.

Gaotu Techedu Stock Performance

GOTU stock traded down $0.07 on Tuesday, reaching $3.65. The company had a trading volume of 1,421,198 shares, compared to its average volume of 2,233,495. Gaotu Techedu Inc. has a 1 year low of $1.87 and a 1 year high of $6.48. The company's fifty day moving average is $3.17 and its 200 day moving average is $2.80. The company has a market cap of $924.14 million, a P/E ratio of -6.40 and a beta of 0.29.

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

Gaotu Techedu declared that its Board of Directors has authorized a share repurchase program on Thursday, May 15th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is 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.