Harvest Fund Management Co., Ltd. recently announced the acquisition of new stake in Gaotu Techedu Inc ADR (NYSE:GOTU). The institutional investor has increased its shareholding in the Consumer Defensive company by 98.44% to 4.46 million shares with purchase of 2.21 million shares. This fresh investment now brings its stake to 2.99% valued currently at $11.56 million. In addition, Acadian Asset Management LLC raised its holdings by 0.63 million to 4.45 million shares.
With over 3.98 million Gaotu Techedu Inc ADR (GOTU) shares trading Tuesday and a closing price of $3.60 on the day, the dollar volume was approximately $14.33 million. The shares have shown a positive half year performance of 19.60% and its price on 12/26/23 gained nearly 6.82%. Currently, there are 152.10M common shares owned by the public and among those 152.01M shares have been available to trade.
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The top 3 mutual fund holders in Gaotu Techedu Inc ADR are Vanguard Emerging Markets Stock I, Vanguard Total International Stoc, and Vanguard Institutional Total Intl. Vanguard Emerging Markets Stock I owns 1.98 million shares of the company’s stock, all valued at over $5.13 million. Vanguard Total International Stoc bought 41438.0 shares to see its total holdings expand to 1.89 million shares valued at over $4.89 million and representing 1.26% of the shares outstanding. Vanguard Institutional Total Intl now owns shares totaling to 0.57% of the shares outstanding.
Shares of Gaotu Techedu Inc ADR (NYSE: GOTU) opened at $3.44, up $0.07 from a prior closing price of $3.37. However, the script later moved the day high at 3.6900, up 6.82%. The company’s stock has a 5-day price change of -3.49% and 36.36% over the past three months. GOTU shares are trading 52.54% year to date (YTD), with the 12-month market performance down to -8.40% lower. It has a 12-month low price of $2.21 and touched a high of $5.49 over the same period. GOTU has an average intraday trading volume of 4.01 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 13.21%, 29.53%, and 15.59% respectively.
Institutional ownership of Gaotu Techedu Inc ADR (NYSE: GOTU) shares accounts for 21.43% of the company’s 152.10M shares outstanding. Mutual fund holders own 17.50%, while other institutional holders and individual stakeholders account for 4.32% and — respectively.
It has a market capitalization of $547.56M and a beta (3y monthly) value of -0.29. The stock’s trailing 12-month PE ratio is 36.25, while the earnings-per-share (ttm) stands at $0.10. The company has a PEG of 2.26 and a Quick Ratio of 2.36 with the debt-to-equity ratio at 0.04. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.64% over the week and 10.48% over the month.
Analysts forecast that Gaotu Techedu Inc ADR (GOTU) will achieve an EPS of -$0.05 for the current quarter, $0 for the next quarter and $0.09 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.05 while analysts give the company a high EPS estimate of -$0.05. Comparatively, EPS for the current quarter was -$0.8 a year ago. Earnings per share for the fiscal year are expected to decrease by -232.23%, and 384.10% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Gaotu Techedu Inc ADR (GOTU) as a “Moderate Buy” at a consensus score of 2.83. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 2 of the 6 advise that investors “hold,” and 1 rated it as a “Sell.”
