Gaotu Techedu Inc. (NYSE:GOTU) Shares Sold by Voloridge Investment Management LLC

Voloridge Investment Management LLC reduced its stake in shares of Gaotu Techedu Inc. (NYSE:GOTU - Free Report) by 62.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 126,215 shares of the company's stock after selling 208,859 shares during the period. Voloridge Investment Management LLC's holdings in Gaotu Techedu were worth $276,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOTU. Norges Bank acquired a new stake in Gaotu Techedu during the fourth quarter worth about $3,583,000. Marshall Wace LLP purchased a new position in shares of Gaotu Techedu during the 4th quarter valued at approximately $781,000. Barclays PLC lifted its stake in shares of Gaotu Techedu by 195.8% in the 4th quarter. Barclays PLC now owns 215,982 shares of the company's stock valued at $473,000 after purchasing an additional 142,974 shares during the period. Point72 Asset Management L.P. purchased a new stake in Gaotu Techedu during the fourth quarter worth $343,000. Finally, Lighthouse Investment Partners LLC purchased a new position in Gaotu Techedu in the fourth quarter valued at $103,000. 48.42% of the stock is owned by institutional investors and hedge funds.

Gaotu Techedu Stock Up 0.9%

Shares of NYSE:GOTU traded up $0.04 during trading on Tuesday, reaching $3.82. 316,088 shares of the company's stock traded hands, compared to its average volume of 2,190,424. Gaotu Techedu Inc. has a fifty-two week low of $1.87 and a fifty-two week high of $5.80. The company has a 50-day simple moving average of $3.22 and a 200-day simple moving average of $2.85. The firm has a market cap of $965.91 million, a PE ratio of -6.69 and a beta of 0.29.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.12. Gaotu Techedu had a negative return on equity of 37.79% and a negative net margin of 26.36%. The business had revenue of $28.53 million during the quarter, compared to analysts' expectations of $189.76 million.

Gaotu Techedu announced that its Board of Directors has approved a share buyback plan on Thursday, May 15th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically 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.