Connor Clark & Lunn Investment Management Ltd. Lowers Stock Position in Gaotu Techedu Inc. (NYSE:GOTU)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Gaotu Techedu Inc. (NYSE:GOTU) by 62.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,230 shares of the company’s stock after selling 477,089 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Gaotu Techedu were worth $1,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Gaotu Techedu during the second quarter worth approximately $75,000. Virtu Financial LLC purchased a new position in shares of Gaotu Techedu in the first quarter worth $133,000. Marshall Wace LLP increased its stake in shares of Gaotu Techedu by 158.2% in the second quarter. Marshall Wace LLP now owns 77,562 shares of the company’s stock worth $380,000 after buying an additional 47,522 shares during the period. GSA Capital Partners LLP increased its stake in shares of Gaotu Techedu by 249.7% in the third quarter. GSA Capital Partners LLP now owns 90,881 shares of the company’s stock worth $356,000 after buying an additional 64,896 shares during the period. Finally, Headlands Technologies LLC increased its stake in shares of Gaotu Techedu by 1,362.7% in the second quarter. Headlands Technologies LLC now owns 141,718 shares of the company’s stock worth $694,000 after buying an additional 132,029 shares during the period. 48.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Citigroup downgraded shares of Gaotu Techedu from a “buy” rating to a “sell” rating in a research note on Tuesday, August 27th.

Gaotu Techedu Stock Up 14.8 %

NYSE:GOTU opened at $2.87 on Thursday. The stock has a market cap of $744.97 million, a P/E ratio of -8.29 and a beta of 0.02. The firm’s fifty day simple moving average is $3.15 and its 200 day simple moving average is $4.27. Gaotu Techedu Inc. has a twelve month low of $2.30 and a twelve month high of $8.44.

Gaotu Techedu (NYSE:GOTU) last announced its earnings results on Tuesday, August 27th. The company reported ($0.23) EPS for the quarter. Gaotu Techedu had a negative net margin of 17.63% and a negative return on equity of 20.26%. The business had revenue of $138.95 million for the quarter.

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.