Morgan Stanley & Co. LLC recently announced the acquisition of new stake in GSX Techedu Inc. (NYSE:GSX). The institutional investor has increased its shareholding in the Consumer Defensive company by 10.96% to 7.77 million shares with purchase of 0.77 million shares. This fresh investment now brings its stake to 6.04% valued currently at $692.13 million. In addition, Goldman Sachs & Co. LLC (Private. raised its holdings by 4.29 million to 7.3 million shares. And Citigroup Global Markets, Inc. (I. has lifted its position by 48.46% or 1.89 million shares – to 5.78 million shares.
With over 3.69 million GSX Techedu Inc. (GSX) shares trading Monday and a closing price of $87.50 on the day, the dollar volume was approximately $322.89 million. The shares have shown a negative weekly performance of -0.58% and its price on 08/24/20 lost nearly -3.06%. Currently, there are 238.67M common shares owned by the public and among those 127.50M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for GSX have a consensus price objective of $557.43. The analysts have set the share’s price value over the next 12 months at a high of $800.40 and a low of $276.32 should the stock experience a downside. Incidentally, analysts’ outlook for the GSX Techedu Inc. stock is 3.30 for the next 12 months. The average price target is -18.74% below its last price level and a downside to the estimated low will see the stock gain 68.33% over that period. But an upside of 89.07% will see the stock hit the forecast high price target while mean target price for the stock is $586.28.
The top 3 mutual fund holders in GSX Techedu Inc. are Morgan Stanley Invt. Fds. – Asia, Virtus KAR Mid Cap Growth Fund, and CS Invt. Fds. 2 – (Lux) Edutainme. Morgan Stanley Invt. Fds. – Asia owns 1.41 million shares of the company’s stock, all valued at over $125.49 million. The company sold -0.53 million shares recently to bring their total holdings to about 1.09% of the shares outstanding. Virtus KAR Mid Cap Growth Fund bought 0.33 million shares to see its total holdings expand to 1.24 million shares valued at over $110.08 million and representing 0.96% of the shares outstanding. CS Invt. Fds. 2 – (Lux) Edutainme bought 0.92 million shares to bring its total holdings to over 0.92 million shares at a value of $81.99 million. CS Invt. Fds. 2 – (Lux) Edutainme now owns shares totaling to 0.72% of the shares outstanding.
Shares of GSX Techedu Inc. (NYSE: GSX) opened at $91.10, up $0.84 from a prior closing price of $90.26. However, the script later closed the day at $87.50, down -3.06%. The company’s stock has a 5-day price change of -0.58% and 182.08% over the past three months. GSX shares are trading 300.27% year to date (YTD), with the 12-month market performance up to 544.80% higher. It has a 12-month low price of $11.72 and touched a high of $141.78 over the same period. Currently, 3.69 million shares have been traded, compared to an average intraday trading volume of 6.04 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.53%, 10.75%, and 100.81% respectively.
Institutional ownership of GSX Techedu Inc. (NYSE: GSX) shares accounts for 54.50% of the company’s 238.67M shares outstanding. Mutual fund holders own 45.87%, while other institutional holders and individual stakeholders account for 9.73% and — respectively.
It has a market capitalization of $20.41B. The stock’s trailing 12-month PE ratio is 460.53, while the earnings-per-share (ttm) stands at $0.19. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.11% over the week and 10.23% over the month.
Analysts forecast that GSX Techedu Inc. (GSX) will achieve an EPS of $0.06 for the current quarter, $0.07 for the next quarter and $0.85 for 2021. The lowest estimate earnings-per-share for the quarter is $0.04 while analysts give the company a high EPS estimate of $0.08. Comparatively, EPS for the current quarter was $0.01 a year ago. Earnings per share for the fiscal year are expected to increase by 152.90%, and 98.51% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate GSX Techedu Inc. (GSX) as a “Hold” at a consensus score of 3.30. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 6 of the 9 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the GSX, a number of firms have released research notes about the stock. Citigroup stated their Sell rating for the stock in a research note on August 10, 2020, with the firm’s price target at $115. Deutsche Bank coverage for the GSX Techedu Inc. (GSX) stock in a research note released on July 27, 2020 offered a Hold rating with a price target of. Barclays was of a view on July 16, 2020 that the stock is Equal Weight, while Credit Suisse gave the stock Neutral rating on July 14, 2020, issuing a price target of. Goldman on their part issued Neutral rating on July 01, 2020.