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

Pearson plc (NYSE:PSO)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $15.66 and last traded at $15.65, with a volume of 39807 shares changing hands. The stock had previously closed at $15.49.

Analysts Set New Price Targets

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

Pearson Stock Performance

The company has a quick ratio of 1.72, a current ratio of 1.78 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $14.28 and its 200-day simple moving average is $13.39.

Institutional Investors Weigh In On Pearson

Several institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its holdings in shares of Pearson by 68.4% in the 2nd quarter. Renaissance Technologies LLC now owns 421,620 shares of the company’s stock worth $5,262,000 after purchasing an additional 171,220 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Pearson by 31.6% in the 3rd quarter. Bank of Montreal Can now owns 405,852 shares of the company’s stock worth $5,536,000 after purchasing an additional 97,443 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Pearson by 64.9% in the 2nd quarter. Hsbc Holdings PLC now owns 310,054 shares of the company’s stock worth $3,868,000 after purchasing an additional 122,054 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Pearson by 66.3% in the 2nd quarter. Millennium Management LLC now owns 298,063 shares of the company’s stock worth $3,720,000 after purchasing an additional 118,822 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Pearson by 20.7% in the 3rd quarter. FMR LLC now owns 275,310 shares of the company’s stock worth $3,736,000 after purchasing an additional 47,296 shares during the last quarter. Institutional investors own 2.14% of the company’s stock.

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.