Granite Point Capital Management L.P. Has $630,000 Position in TAL Education Group (TAL)

Granite Point Capital Management L.P. lowered its position in shares of TAL Education Group (NYSE:TAL) by 32.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,500 shares of the company’s stock after selling 11,600 shares during the quarter. Granite Point Capital Management L.P.’s holdings in TAL Education Group were worth $630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. FMR LLC boosted its holdings in shares of TAL Education Group by 123.7% in the second quarter. FMR LLC now owns 8,831,042 shares of the company’s stock valued at $324,982,000 after buying an additional 4,882,800 shares during the period. BRILLIANCE ASSET MANAGEMENT Ltd boosted its holdings in shares of TAL Education Group by 758.5% in the third quarter. BRILLIANCE ASSET MANAGEMENT Ltd now owns 3,746,140 shares of the company’s stock valued at $96,313,000 after buying an additional 3,309,806 shares during the period. Morgan Stanley boosted its holdings in shares of TAL Education Group by 4.4% in the second quarter. Morgan Stanley now owns 32,732,433 shares of the company’s stock valued at $1,204,554,000 after buying an additional 1,386,039 shares during the period. BlackRock Inc. boosted its holdings in shares of TAL Education Group by 9.3% in the third quarter. BlackRock Inc. now owns 15,609,607 shares of the company’s stock valued at $401,325,000 after buying an additional 1,329,357 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of TAL Education Group in the second quarter valued at approximately $40,744,000. Hedge funds and other institutional investors own 59.49% of the company’s stock.

Several research analysts recently commented on TAL shares. Zacks Investment Research upgraded shares of TAL Education Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 1st. Nomura reduced their target price on shares of TAL Education Group from $39.00 to $28.00 and set a “neutral” rating for the company in a report on Friday, October 26th. TheStreet cut shares of TAL Education Group from a “b-” rating to a “c+” rating in a report on Tuesday, October 9th. Citigroup cut shares of TAL Education Group from a “buy” rating to a “neutral” rating in a report on Thursday, September 13th. Finally, ValuEngine cut shares of TAL Education Group from a “sell” rating to a “strong sell” rating in a report on Friday, September 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $41.00.

Shares of TAL opened at $27.01 on Monday. The stock has a market capitalization of $13.20 billion, a PE ratio of 79.44 and a beta of -0.29. TAL Education Group has a fifty-two week low of $21.08 and a fifty-two week high of $47.63.

TAL Education Group (NYSE:TAL) last issued its quarterly earnings data on Thursday, October 25th. The company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The company had revenue of $699.78 million for the quarter. TAL Education Group had a net margin of 11.61% and a return on equity of 16.10%. On average, sell-side analysts predict that TAL Education Group will post 0.45 EPS for the current fiscal year.

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About TAL Education Group

TAL Education Group, through its subsidiaries, provides K-12 after-school tutoring services in the People's Republic of China. It offers tutoring services to K-12 students covering various academic subjects, including mathematics, physics, chemistry, biology, history, geography, political science, English, and Chinese.

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Institutional Ownership by Quarter for TAL Education Group (NYSE:TAL)

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