Cresset Asset Management LLC Has $1 Million Stake in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Cresset Asset Management LLC trimmed its holdings in Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,665 shares of the company's stock after selling 18,666 shares during the period. Cresset Asset Management LLC's holdings in Kingsoft Cloud were worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KC. Renaissance Technologies LLC grew its stake in shares of Kingsoft Cloud by 69.8% in the fourth quarter. Renaissance Technologies LLC now owns 867,934 shares of the company's stock worth $9,105,000 after purchasing an additional 356,834 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Kingsoft Cloud by 628.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company's stock valued at $8,464,000 after purchasing an additional 696,094 shares during the period. Jump Financial LLC acquired a new stake in shares of Kingsoft Cloud in the 4th quarter worth about $6,179,000. Headlands Technologies LLC bought a new stake in Kingsoft Cloud in the 4th quarter worth about $2,990,000. Finally, WT Asset Management Ltd bought a new stake in Kingsoft Cloud in the 4th quarter worth about $2,613,000. 13.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KC has been the subject of a number of recent analyst reports. Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 5th. Nomura raised shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price objective for the company in a research report on Monday, May 5th.

Kingsoft Cloud Stock Up 8.2%

Kingsoft Cloud stock opened at $14.76 on Tuesday. Kingsoft Cloud Holdings Limited has a twelve month low of $2.02 and a twelve month high of $22.26. The firm has a 50 day moving average price of $14.37 and a 200-day moving average price of $11.83. The company has a market capitalization of $4.00 billion, a P/E ratio of -12.30 and a beta of 2.24. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last released its earnings results on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.06. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the firm earned $0.08 EPS. The company's revenue was up 29.6% compared to the same quarter last year. As a group, equities analysts predict that Kingsoft Cloud Holdings Limited will post -0.63 EPS for the current year.

Kingsoft Cloud Company Profile

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, network, database, big data, security, storage, and delivery solutions.

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