Connor Clark & Lunn Investment Management Ltd. Sells 477,089 Shares of Gaotu Techedu Inc. (NYSE:GOTU)

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Gaotu Techedu Inc. (NYSE:GOTU) by 62.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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. owned approximately 0.11% of Gaotu Techedu worth $1,142,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GOTU. SG Americas Securities LLC purchased a new stake in shares of Gaotu Techedu in the second quarter valued at about $75,000. Virtu Financial LLC purchased a new stake in shares of Gaotu Techedu in the first quarter valued at about $133,000. GSA Capital Partners LLP raised its holdings 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 valued at $356,000 after purchasing an additional 64,896 shares during the last quarter. Marshall Wace LLP raised its holdings 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 valued at $380,000 after purchasing an additional 47,522 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Gaotu Techedu in the second quarter valued at about $693,000. 48.42% of the stock is owned by institutional investors.

Gaotu Techedu Stock Up 14.8 %

Shares of NYSE:GOTU opened at $2.87 on Thursday. The firm has a market capitalization of $744.97 million, a PE ratio of -8.29 and a beta of 0.02. Gaotu Techedu Inc. has a twelve month low of $2.30 and a twelve month high of $8.44. The company has a 50-day moving average price of $3.15 and a two-hundred day moving average price of $4.27.

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

Analyst Upgrades and Downgrades

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

About Gaotu Techedu

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.