Millennium Management LLC Has $623,000 Stock Holdings in Gaotu Techedu Inc. (NYSE:GOTU)

Millennium Management LLC lessened its holdings in shares of Gaotu Techedu Inc. (NYSE:GOTU - Free Report) by 21.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 284,370 shares of the company's stock after selling 77,913 shares during the period. Millennium Management LLC owned 0.11% of Gaotu Techedu worth $623,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GOTU. Catalyst Funds Management Pty Ltd acquired a new stake in Gaotu Techedu during the 4th quarter worth $38,000. Two Sigma Securities LLC acquired a new stake in Gaotu Techedu during the 4th quarter worth $86,000. Lighthouse Investment Partners LLC acquired a new stake in Gaotu Techedu during the 4th quarter worth $103,000. Barclays PLC grew its holdings in Gaotu Techedu by 195.8% during the 4th quarter. Barclays PLC now owns 215,982 shares of the company's stock worth $473,000 after acquiring an additional 142,974 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Gaotu Techedu during the 4th quarter worth $781,000. Institutional investors and hedge funds own 48.42% of the company's stock.

Gaotu Techedu Stock Performance

GOTU opened at $4.00 on Friday. The company has a fifty day moving average price of $3.27 and a two-hundred day moving average price of $2.88. Gaotu Techedu Inc. has a 52 week low of $1.87 and a 52 week high of $5.80. The firm has a market capitalization of $1.01 billion, a PE ratio of -7.02 and a beta of 0.42.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.07 earnings per share (EPS) for the quarter, beating 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%. The company had revenue of $28.53 million during the quarter, compared to analyst estimates of $189.76 million.

Gaotu Techedu declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 15th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its shares are 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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