274,310 Shares in Gaotu Techedu Inc. (NYSE:GOTU) Bought by Pinpoint Asset Management Ltd

Key Points

• Pinpoint Asset Management Ltd has acquired 274,310 shares of Gaotu Techedu Inc. (NYSE:GOTU), valued at approximately $892,000, representing about 0.11% of the company's total shares.
• Gaotu Techedu's stock opened at $3.62, with a market cap of $915.28 million and a one-year trading range between $1.87 and $5.11.
• The company reported a quarterly earnings per share of $0.07, exceeding expectations, and declared a stock repurchase program, which typically indicates a belief that the stock is undervalued.

Pinpoint Asset Management Ltd bought a new position in Gaotu Techedu Inc. (NYSE:GOTU - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 274,310 shares of the company's stock, valued at approximately $892,000. Pinpoint Asset Management Ltd owned 0.11% of Gaotu Techedu as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of GOTU. Norges Bank bought a new stake in Gaotu Techedu during the 4th quarter valued at $3,583,000. Harvest Fund Management Co. Ltd raised its position in Gaotu Techedu by 116.1% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 1,023,915 shares of the company's stock valued at $3,317,000 after purchasing an additional 550,000 shares in the last quarter. Marshall Wace LLP bought a new stake in Gaotu Techedu during the 4th quarter valued at $781,000. Barclays PLC raised its position in Gaotu Techedu by 195.8% during 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 in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Gaotu Techedu during the 4th quarter valued at $343,000. Hedge funds and other institutional investors own 48.42% of the company's stock.

Gaotu Techedu Trading Up 0.7%

Shares of GOTU traded up $0.03 during trading hours on Monday, hitting $3.69. The company had a trading volume of 324,258 shares, compared to its average volume of 1,794,215. The company has a market capitalization of $933.00 million, a PE ratio of -7.54 and a beta of 0.20. Gaotu Techedu Inc. has a one year low of $1.87 and a one year high of $4.62. The company's fifty day moving average price is $3.73 and its two-hundred day moving average price is $3.31.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last released its quarterly 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 during the quarter, compared to analyst estimates of $189.76 million. Gaotu Techedu had a negative return on equity of 42.83% and a negative net margin of 18.07%.

Gaotu Techedu declared that its board has approved a stock buyback program on Thursday, May 15th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Gaotu Techedu Company 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.