Connor Clark & Lunn Investment Management Ltd. Reduces Holdings in Gaotu Techedu Inc. (NYSE:GOTU)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Gaotu Techedu Inc. (NYSE:GOTU - Free Report) by 62.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 291,230 shares of the company's stock after selling 477,089 shares during the period. 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.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Gaotu Techedu during the 2nd quarter worth $75,000. Virtu Financial LLC purchased a new position in Gaotu Techedu during the first quarter worth about $133,000. Marshall Wace LLP raised its holdings in Gaotu Techedu by 158.2% during the second quarter. Marshall Wace LLP now owns 77,562 shares of the company's stock worth $380,000 after purchasing an additional 47,522 shares in the last quarter. GSA Capital Partners LLP lifted its position in 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 period. Finally, Headlands Technologies LLC boosted its holdings in Gaotu Techedu by 1,362.7% in the 2nd quarter. Headlands Technologies LLC now owns 141,718 shares of the company's stock valued at $694,000 after purchasing an additional 132,029 shares in the last quarter. Hedge funds and other institutional investors own 48.42% of the company's stock.

Wall Street Analyst Weigh In

Separately, Citigroup cut Gaotu Techedu from a "buy" rating to a "sell" rating in a report on Tuesday, August 27th.

Gaotu Techedu Trading Up 14.8 %

Shares of GOTU traded up $0.37 during trading hours on Thursday, reaching $2.87. The company had a trading volume of 3,536,039 shares, compared to its average volume of 3,360,538. Gaotu Techedu Inc. has a 12-month low of $2.30 and a 12-month high of $8.44. The firm has a 50 day simple moving average of $3.15 and a 200-day simple moving average of $4.26. The company has a market capitalization of $744.97 million, a price-to-earnings ratio of -8.44 and a beta of 0.02.

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

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.