Pearson (NYSE:PSO) Hits New 52-Week High – Here’s Why

Pearson, PLC (NYSE:PSO)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $15.66 and last traded at $15.72, with a volume of 1000 shares trading hands. The stock had previously closed at $15.54.

Analysts Set New Price Targets

PSO has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Pearson from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, June 4th. Wall Street Zen downgraded shares of Pearson from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Pearson Trading Up 1.3%

The business has a 50 day moving average of $15.00 and a 200-day moving average of $13.86. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.94 and a current ratio of 2.00.

Hedge Funds Weigh In On Pearson

A number of hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its position in Pearson by 16.2% in the 1st quarter. AQR Capital Management LLC now owns 71,670 shares of the company’s stock valued at $1,147,000 after purchasing an additional 9,977 shares during the last quarter. Millennium Management LLC purchased a new position in Pearson during the 1st quarter worth $11,546,000. NewEdge Advisors LLC increased its stake in Pearson by 10,532.1% in the first quarter. NewEdge Advisors LLC now owns 25,836 shares of the company’s stock valued at $414,000 after purchasing an additional 25,593 shares during the period. Goldman Sachs Group Inc. increased its stake in Pearson by 2.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,144,680 shares of the company’s stock valued at $34,336,000 after purchasing an additional 44,349 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Pearson by 672.2% in the second quarter. JPMorgan Chase & Co. now owns 261,605 shares of the company’s stock valued at $3,906,000 after buying an additional 227,725 shares during the last quarter. 2.14% of the stock is currently owned by hedge funds and other institutional investors.

About Pearson

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.