Connor Clark & Lunn Investment Management Ltd. Has $1.05 Million Stake in Youdao, Inc. Unsponsored ADR $DAO

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. lifted its position in shares of Youdao, Inc. Unsponsored ADR (NYSE:DAO - Free Report) by 83.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 137,456 shares of the company's stock after buying an additional 62,568 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.11% of Youdao worth $1,049,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DAO. Public Employees Retirement System of Ohio raised its holdings in 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 in the last quarter. Jane Street Group LLC bought a new position in shares of Youdao in the fourth quarter worth $119,000. Vident Advisory LLC raised its stake in Youdao by 35.6% in the fourth quarter. Vident Advisory LLC now owns 19,707 shares of the company's stock valued at $146,000 after purchasing an additional 5,170 shares in the last quarter. Bank of America Corp DE lifted its position in Youdao by 13,310.0% during the fourth quarter. Bank of America Corp DE now owns 32,050 shares of the company's stock worth $237,000 after purchasing an additional 31,811 shares during the period. Finally, Walleye Capital LLC acquired a new stake in Youdao during the fourth quarter worth about $401,000. 21.91% of the stock is currently owned by institutional investors and hedge funds.

Youdao Stock Performance

Shares of NYSE:DAO traded up $0.0410 during mid-day trading on Wednesday, reaching $9.1410. 37,311 shares of the company's stock were exchanged, compared to its average volume of 123,002. The business's fifty day moving average price is $8.80 and its 200-day moving average price is $8.68. Youdao, Inc. Unsponsored ADR has a twelve month low of $3.00 and a twelve month high of $11.82. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 32.66 and a beta of 0.24.

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

Wall Street Analyst Weigh In

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