Pearson (NYSE:PSO) Shares Gap Down – Here’s Why
by Tristan Rich · The Markets DailyPearson, PLC (NYSE:PSO – Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $14.39, but opened at $13.40. Pearson shares last traded at $13.2950, with a volume of 365,017 shares.
Analysts Set New Price Targets
Several brokerages have commented on PSO. Wall Street Zen downgraded Pearson from a “buy” rating to a “hold” rating in a research report on Saturday, September 20th. Morgan Stanley began coverage on shares of Pearson in a research note on Monday, October 20th. They issued an “equal weight” rating on the stock. Citigroup assumed coverage on shares of Pearson in a research note on Monday. They set a “buy” rating for the company. Finally, Weiss Ratings cut shares of Pearson from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.
Read Our Latest Report on Pearson
Pearson Trading Down 9.1%
The company has a debt-to-equity ratio of 0.40, a current ratio of 2.31 and a quick ratio of 2.24. The stock’s 50 day moving average is $13.62 and its two-hundred day moving average is $14.12.
Institutional Trading of Pearson
Several institutional investors have recently bought and sold shares of PSO. Assetmark Inc. grew its position in Pearson by 68.2% during the 2nd quarter. Assetmark Inc. now owns 10,432 shares of the company’s stock worth $156,000 after acquiring an additional 4,230 shares during the last quarter. QRG Capital Management Inc. raised its position in Pearson by 145.9% in the 2nd quarter. QRG Capital Management Inc. now owns 157,281 shares of the company’s stock valued at $2,348,000 after purchasing an additional 93,310 shares during the last quarter. Atria Investments Inc boosted its stake in Pearson by 62.0% in the second quarter. Atria Investments Inc now owns 52,557 shares of the company’s stock worth $785,000 after purchasing an additional 20,118 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Pearson by 25.5% in the second quarter. Envestnet Asset Management Inc. now owns 189,991 shares of the company’s stock valued at $2,837,000 after buying an additional 38,578 shares during the last quarter. Finally, Callan Family Office LLC bought a new stake in Pearson during the 2nd quarter worth about $307,000. Institutional investors and hedge funds own 2.14% of the company’s stock.
Pearson Company Profile
Pearson plc is a global education company headquartered in London, England, with significant operations in North America, Europe, Asia, and Latin America. Tracing its roots back to 1844, Pearson evolved from its early beginnings into one of the world’s leading providers of educational content, digital learning tools, and assessment services. The company’s American subsidiary trades on the New York Stock Exchange under the symbol PSO.
Pearson’s core business encompasses a broad portfolio of products and services for learners, educators, and institutions.