SG Americas Securities LLC Buys Shares of 15,382 Gaotu Techedu Inc. (NYSE:GOTU)

SG Americas Securities LLC purchased a new position in Gaotu Techedu Inc. (NYSE:GOTU) during the second quarter, Holdings Channel reports. The fund purchased 15,382 shares of the company’s stock, valued at approximately $75,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of Gaotu Techedu during the 1st quarter valued at about $133,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Gaotu Techedu by 97.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,365,100 shares of the company’s stock worth $15,491,000 after buying an additional 1,169,300 shares in the last quarter. Seven Eight Capital LP purchased a new stake in Gaotu Techedu in the first quarter worth approximately $957,000. Headlands Technologies LLC bought a new position in Gaotu Techedu during the first quarter valued at approximately $63,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Gaotu Techedu during the first quarter worth approximately $6,360,000. Hedge funds and other institutional investors own 48.42% of the company’s stock.

Gaotu Techedu Trading Down 18.9 %

NYSE GOTU opened at $3.31 on Wednesday. The firm has a market cap of $855.39 million and a PE ratio of -41.38. Gaotu Techedu Inc. has a 1-year low of $2.22 and a 1-year high of $8.44. The stock has a 50-day moving average of $4.77 and a 200-day moving average of $5.90.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut shares of Gaotu Techedu from a “buy” rating to a “sell” rating in a research note on Tuesday.

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.