Carmignac Gestion Trims Stake 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 lowered its holdings in Gaotu Techedu Inc. (NYSE:GOTU - Free Report) by 20.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 401,859 shares of the company's stock after selling 100,491 shares during the quarter. Carmignac Gestion owned 0.15% of Gaotu Techedu worth $1,306,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOTU. Two Sigma Advisers LP acquired a new stake in shares of Gaotu Techedu in the fourth quarter valued at $41,000. PFG Investments LLC acquired a new stake in shares of Gaotu Techedu in the first quarter valued at $76,000. Two Sigma Securities LLC acquired a new stake in shares of Gaotu Techedu in the fourth quarter valued at $86,000. Virtu Financial LLC acquired a new stake in shares of Gaotu Techedu in the first quarter valued at $137,000. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Gaotu Techedu in the fourth quarter valued at $103,000. Hedge funds and other institutional investors own 48.42% of the company's stock.

Gaotu Techedu Trading Up 4.5%

GOTU traded up $0.1650 on Monday, hitting $3.8550. 985,176 shares of the company were exchanged, compared to its average volume of 1,722,614. Gaotu Techedu Inc. has a twelve month low of $1.87 and a twelve month high of $4.59. The company has a market cap of $976.05 million, a price-to-earnings ratio of -7.89 and a beta of 0.20. The firm has a 50-day moving average price of $3.69 and a two-hundred day moving average price of $3.42.

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