Pearson (NYSE:PSO) Hits New 52-Week High – Time to Buy?

Pearson plc (NYSE:PSO) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.30 and last traded at $16.30, with a volume of 10501 shares changing hands. The stock had previously closed at $16.02.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Pearson from a “buy” rating to a “hold” rating in a report on Friday, November 15th.

Pearson Stock Down 1.5 %

The firm’s 50-day moving average price is $15.68 and its 200 day moving average price is $14.19. The company has a market capitalization of $10.72 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.75 and a beta of 0.41. The company has a current ratio of 1.78, a quick ratio of 1.72 and a debt-to-equity ratio of 0.34.

Hedge Funds Weigh In On Pearson

Institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc acquired a new position in Pearson during the 4th quarter worth approximately $26,000. Allspring Global Investments Holdings LLC increased its position in Pearson by 86.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,145 shares of the company’s stock valued at $43,000 after acquiring an additional 1,462 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Pearson in the 3rd quarter valued at approximately $47,000. EverSource Wealth Advisors LLC increased its position in Pearson by 86.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,517 shares of the company’s stock valued at $61,000 after acquiring an additional 2,096 shares during the period. Finally, GAMMA Investing LLC increased its position in Pearson by 78.6% in the 3rd quarter. GAMMA Investing LLC now owns 4,968 shares of the company’s stock valued at $67,000 after acquiring an additional 2,186 shares during the period. 2.14% of the stock is currently owned by institutional investors and hedge funds.

About Pearson

Pearson plc offers educational courseware, assessments, and services in the United Kingdom, the United States, Canada, the Asia Pacific, other European countries, and internationally. The company operates through five segments: Assessment & Qualifications, Virtual Learning, English Language Learning, Workforce Skills, and Higher Education.