D. E. Shaw & Co. Inc. Sells 2,059,128 Shares of Gaotu Techedu Inc. (NYSE:GOTU)

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

A number of other hedge funds also recently added to or reduced their stakes in the company. Catalyst Funds Management Pty Ltd bought a new stake in Gaotu Techedu in the 4th quarter worth approximately $38,000. Two Sigma Securities LLC bought a new stake in Gaotu Techedu in the 4th quarter worth approximately $86,000. Barclays PLC grew its position in Gaotu Techedu by 87.8% in the 3rd quarter. Barclays PLC now owns 73,008 shares of the company's stock worth $286,000 after purchasing an additional 34,133 shares during the period. Marshall Wace LLP bought a new stake in Gaotu Techedu in the 4th quarter worth approximately $781,000. Finally, JPMorgan Chase & Co. grew its position in Gaotu Techedu by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 832,996 shares of the company's stock worth $3,265,000 after purchasing an additional 108,224 shares during the period. 48.42% of the stock is currently owned by hedge funds and other institutional investors.

Gaotu Techedu Stock Performance

NYSE:GOTU remained flat at $3.73 during trading hours on Friday. 1,223,309 shares of the company's stock were exchanged, compared to its average volume of 2,236,757. Gaotu Techedu Inc. has a fifty-two week low of $1.87 and a fifty-two week high of $6.48. The stock has a market cap of $944.39 million, a price-to-earnings ratio of -6.54 and a beta of 0.29. The company's 50 day simple moving average is $3.17 and its 200 day simple moving average is $2.80.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates 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%. The business had revenue of $28.53 million during the quarter, compared to the consensus estimate of $189.76 million.

Gaotu Techedu announced that its board has approved a share repurchase program on Thursday, May 15th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company's management 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.