Carmignac Gestion Trims Position in Gaotu Techedu Inc. $GOTU

Key Points

• Carmignac Gestion has reduced its stake in Gaotu Techedu Inc. by 20%, selling 100,491 shares to hold a total of 401,859 shares, valued at approximately $1.31 million.
• Harvest Fund Management increased its holdings in Gaotu Techedu by 116%, acquiring an additional 550,000 shares, while institutional investors own 48.42% of the stock overall.
• Gaotu Techedu's stock is currently trading at $3.685 with a market cap of $933.01 million and the company has authorized a stock repurchase plan, indicating management believes the stock is undervalued.

Carmignac Gestion cut its position in Gaotu Techedu Inc. (NYSE:GOTU - Free Report) by 20.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 401,859 shares of the company's stock after selling 100,491 shares during the quarter. Carmignac Gestion owned approximately 0.15% of Gaotu Techedu worth $1,306,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. PFG Investments LLC bought a new stake in shares of Gaotu Techedu in the 1st quarter valued at about $76,000. Harvest Fund Management Co. Ltd boosted its stake in Gaotu Techedu by 116.1% in the first quarter. Harvest Fund Management Co. Ltd now owns 1,023,915 shares of the company's stock valued at $3,317,000 after acquiring an additional 550,000 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in Gaotu Techedu in the fourth quarter valued at approximately $86,000. Virtu Financial LLC purchased a new position in Gaotu Techedu in the first quarter worth $137,000. Finally, National Bank of Canada FI acquired a new position in shares of Gaotu Techedu during the first quarter worth $1,788,000. 48.42% of the stock is owned by hedge funds and other institutional investors.

Gaotu Techedu Trading Down 0.1%

Shares of GOTU traded down $0.0050 during midday trading on Friday, hitting $3.6950. 812,748 shares of the company's stock traded hands, compared to its average volume of 531,703. The stock has a market capitalization of $935.54 million, a price-to-earnings ratio of -7.54 and a beta of 0.20. Gaotu Techedu Inc. has a 1 year low of $1.87 and a 1 year high of $4.59. The firm's fifty day moving average is $3.69 and its 200-day moving average is $3.41.

Gaotu Techedu announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 15th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's board 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.