D. E. Shaw & Co. Inc. Decreases Holdings in Gaotu Techedu Inc. (NYSE:GOTU)

D. E. Shaw & Co. Inc. cut its holdings in shares of Gaotu Techedu Inc. (NYSE:GOTU - Free Report) by 61.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,297,755 shares of the company's stock after selling 2,059,128 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.50% of Gaotu Techedu worth $2,842,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Gaotu Techedu during the fourth quarter valued at about $3,583,000. Marshall Wace LLP purchased a new stake in Gaotu Techedu in the fourth quarter valued at approximately $781,000. Barclays PLC raised its stake in Gaotu Techedu by 195.8% in the fourth 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. JPMorgan Chase & Co. raised its stake in Gaotu Techedu by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 832,996 shares of the company's stock valued at $3,265,000 after purchasing an additional 108,224 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new position in Gaotu Techedu during the fourth quarter valued at approximately $86,000. Hedge funds and other institutional investors own 48.42% of the company's stock.

Gaotu Techedu Price Performance

Shares of NYSE GOTU opened at $3.88 on Tuesday. Gaotu Techedu Inc. has a one year low of $1.87 and a one year high of $8.36. The firm's 50 day simple moving average is $3.17 and its two-hundred day simple moving average is $2.78. The stock has a market capitalization of $982.37 million, a P/E ratio of -6.81 and a beta of 0.29.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.12. Gaotu Techedu had a negative net margin of 26.36% and a negative return on equity of 37.79%.

Gaotu Techedu announced that its board has authorized a stock repurchase plan on Thursday, May 15th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership 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.

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