SG Americas Securities LLC Purchases 72,849 Shares of Gaotu Techedu Inc. (NYSE:GOTU)

SG Americas Securities LLC raised its position in shares of Gaotu Techedu Inc. (NYSE:GOTU) by 473.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,231 shares of the company’s stock after acquiring an additional 72,849 shares during the quarter. SG Americas Securities LLC’s holdings in Gaotu Techedu were worth $346,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of GOTU. Goldman Sachs Group Inc. boosted its position in Gaotu Techedu by 2,548.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,998,033 shares of the company’s stock valued at $25,333,000 after acquiring an additional 6,733,849 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Gaotu Techedu during the first quarter valued at $99,000. BNP Paribas Financial Markets acquired a new position in shares of Gaotu Techedu during the first quarter valued at about $6,360,000. Headlands Technologies LLC acquired a new position in shares of Gaotu Techedu during the first quarter valued at about $63,000. Finally, Seven Eight Capital LP acquired a new position in shares of Gaotu Techedu during the first quarter valued at about $957,000. Institutional investors own 48.42% of the company’s stock.

Gaotu Techedu Trading Up 1.4 %

Shares of NYSE GOTU opened at $3.20 on Friday. The firm’s 50-day moving average price is $3.47 and its 200-day moving average price is $5.01. Gaotu Techedu Inc. has a 1-year low of $2.22 and a 1-year high of $8.44. The firm has a market capitalization of $825.67 million, a P/E ratio of -39.94 and a beta of -0.01.

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

Wall Street Analyst Weigh In

Separately, Citigroup lowered 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.