550,000 Shares in Gaotu Techedu Inc. $GOTU Purchased by National Bank of Canada FI

Key Points

• National Bank of Canada FI has acquired 550,000 shares of Gaotu Techedu Inc. (NYSE:GOTU), valued at approximately $1,788,000, representing about 0.21% of the company.
• Gaotu Techedu reported a Q1 EPS of $0.07, exceeding analysts' expectations of ($0.05), but reported revenues significantly below estimates at $28.53 million.
• The company has announced a share buyback plan, typically indicating that its board views its stock as undervalued, although the amount authorized for repurchase is $0.00.

National Bank of Canada FI purchased a new stake in Gaotu Techedu Inc. (NYSE:GOTU - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 550,000 shares of the company's stock, valued at approximately $1,788,000. National Bank of Canada FI owned 0.21% of Gaotu Techedu as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Two Sigma Advisers LP purchased a new position in Gaotu Techedu in the fourth quarter worth $41,000. PFG Investments LLC purchased a new position in Gaotu Techedu in the first quarter worth $76,000. Two Sigma Securities LLC purchased a new position in Gaotu Techedu in the fourth quarter worth $86,000. Lighthouse Investment Partners LLC purchased a new position in Gaotu Techedu in the fourth quarter worth $103,000. Finally, XTX Topco Ltd purchased a new position in Gaotu Techedu in the first quarter worth $205,000. Institutional investors and hedge funds own 48.42% of the company's stock.

Gaotu Techedu Stock Performance

NYSE:GOTU traded down $0.01 during trading hours on Monday, hitting $3.82. The company's stock had a trading volume of 373,038 shares, compared to its average volume of 1,756,268. The company has a market capitalization of $965.92 million, a PE ratio of -7.79 and a beta of 0.20. The business's 50-day moving average is $3.72 and its two-hundred day moving average is $3.37. Gaotu Techedu Inc. has a 52-week low of $1.87 and a 52-week high of $4.59.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.12. The business had revenue of $28.53 million for the quarter, compared to analysts' expectations of $189.76 million. Gaotu Techedu had a negative return on equity of 42.83% and a negative net margin of 18.07%.

Gaotu Techedu announced that its Board of Directors has approved a share repurchase plan on Thursday, May 15th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Gaotu Techedu 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.