Citigroup Inc. increased its stake in shares of Gaotu Techedu Inc. (NYSE:GOTU – Get Rating) by 7,692.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,012,069 shares of the company’s stock after buying an additional 1,986,249 shares during the quarter. Citigroup Inc. owned about 0.78% of Gaotu Techedu worth $4,748,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV acquired a new stake in Gaotu Techedu in the fourth quarter valued at about $37,000. Envestnet Asset Management Inc. acquired a new stake in Gaotu Techedu in the first quarter valued at about $51,000. Northern Trust Corp acquired a new stake in Gaotu Techedu in the second quarter valued at about $85,000. Cubist Systematic Strategies LLC acquired a new stake in Gaotu Techedu in the second quarter valued at about $106,000. Finally, Millennium Management LLC lifted its position in Gaotu Techedu by 211.2% in the second quarter. Millennium Management LLC now owns 66,206 shares of the company’s stock valued at $130,000 after purchasing an additional 44,930 shares during the period. Institutional investors and hedge funds own 11.91% of the company’s stock.
Gaotu Techedu Trading Down 2.4 %
GOTU stock opened at $2.88 on Friday. The firm has a 50 day moving average of $3.59 and a 200-day moving average of $3.09. Gaotu Techedu Inc. has a 12-month low of $0.64 and a 12-month high of $5.49. The company has a market cap of $740.25 million, a price-to-earnings ratio of 288.29 and a beta of -0.75.
Gaotu Techedu (NYSE:GOTU – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter. Gaotu Techedu had a net margin of 0.71% and a return on equity of 0.59%. The company had revenue of $91.29 million during the quarter.
Analyst Ratings Changes
Separately, CLSA upgraded shares of Gaotu Techedu from an “underperform” rating to an “outperform” rating in a research report on Monday, February 13th.
Gaotu Techedu Company Profile
Gaotu Techedu, Inc is a technology-driven education company. The company was founded by Xiang Dong Chen in June 2014 and is headquartered in Beijing, China.
Further Reading
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