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Tiger Global Continues Selling TAL Education

Tiger Global Management, run by Chase Coleman, has been reducing its exposure to TAL Education Group (ADR) (NYSE:XRS). In a recent filing with the Securities and Exchange Commission, Tiger Global reported cutting it’s stake in TAL Education by 24%,  from 8.3 million to 6.3 million shares. The new position is equivalent to 9.2% of TAL’s common stock.

Chase Coleman Tiger Global Management

Brian Taylor‘s Pine River Capital Management is in the same boat with Tiger Global. Pine River has reduced its holding of TAL shares by more than 50%, currently holding 24,000 shares with a reported value of $348,000. Robert Karr‘s Joho Capital is also heavily invested in the TAL Education Group. In the latest 13F filing the fund reported ownership of 2.7 million shares valued at a little under $40 million. The fund has not made any changes to their position during the third quarter of 2013. A hedge fund that is actually bullish on this stock is Renaissance Technologies managed by Jim Simons.  They have increased their stake in the TAL Education Group by 29% and have reported in the latest 13F filing the ownership of 337K shares worth $4.8 million.

The TAL Education Group’s stock has been in an uptrend sine May of this year, rising by 121%. Shares are currently trading at a price of $19.81 and have a trailing Price to Earnings (P/E) ratio of 35.42. The stock has a beta of 0.99 and pays a dividend of $0.5 per share, which represents a yield of 2.5%. On October 22, TAL announced the financial results for the second quarter ended August 31, 2013. Net income registered a year-over-year increase by 35.1% to $92 million. The company also posted earnings per diluted share of $0.29. The stock is highly regarded by market analysts, who are recommending it mainly as a Buy and Strong Buy.

Disclosure: none

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