Youdao, Inc. Unsponsored ADR $DAO Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Youdao, Inc. by 83.5%, owning approximately 137,456 shares worth $1,049,000 after purchasing an additional 62,568 shares in the first quarter.
• Youdao's stock has a market cap of $1.20 billion with a current share price of $10.08, having reached a 52-week low of $3.00 and a high of $11.82.
• Analysts recently downgraded Youdao from a "buy" to a "hold" rating, reflecting potential concerns over the company's earnings report which showed a net revenue significantly below expectations.

Connor Clark & Lunn Investment Management Ltd. grew its stake in Youdao, Inc. Unsponsored ADR (NYSE:DAO - Free Report) by 83.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 137,456 shares of the company's stock after acquiring an additional 62,568 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.11% of Youdao worth $1,049,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Renaissance Technologies LLC increased its holdings in shares of Youdao by 3.3% in the 4th quarter. Renaissance Technologies LLC now owns 57,100 shares of the company's stock valued at $423,000 after acquiring an additional 1,800 shares during the period. Vident Advisory LLC increased its holdings in shares of Youdao by 35.6% in the 4th quarter. Vident Advisory LLC now owns 19,707 shares of the company's stock valued at $146,000 after acquiring an additional 5,170 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Youdao by 754.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 9,421 shares of the company's stock valued at $70,000 after acquiring an additional 8,318 shares during the period. Jane Street Group LLC purchased a new position in shares of Youdao in the 4th quarter valued at $119,000. Finally, Bank of America Corp DE increased its holdings in shares of Youdao by 13,310.0% in the 4th quarter. Bank of America Corp DE now owns 32,050 shares of the company's stock valued at $237,000 after acquiring an additional 31,811 shares during the period. 21.91% of the stock is currently owned by hedge funds and other institutional investors.

Youdao Stock Performance

DAO stock traded up $0.05 on Thursday, hitting $9.20. 76,749 shares of the company's stock were exchanged, compared to its average volume of 109,867. Youdao, Inc. Unsponsored ADR has a 12-month low of $3.00 and a 12-month high of $11.82. The firm has a 50 day moving average price of $8.82 and a two-hundred day moving average price of $8.69. The stock has a market cap of $1.10 billion, a P/E ratio of 32.86 and a beta of 0.24.

Youdao (NYSE:DAO - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.02) EPS for the quarter. Youdao had a negative return on equity of 12.10% and a net margin of 4.05%.The firm had revenue of $197.82 million for the quarter, compared to analyst estimates of $1.38 billion.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Youdao from a "buy" rating to a "hold" rating in a report on Sunday. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Youdao has an average rating of "Hold".

About Youdao

Youdao, Inc, an internet technology company, provides online services in the field of content, community, communication, and commerce in China. It operates through three segments: Learning Services, Smart Devices, and Online Marketing Services. The company provides various learning content, applications, and solutions, which cover topics and target people from various age groups for their learning needs through its websites and mobile applications.