Acadian Asset Management LLC Buys 1,102,401 Shares of Zhihu Inc. Sponsored ADR $ZH

Key Points

• Acadian Asset Management LLC increased its holdings in Zhihu Inc. by 60.0%, acquiring an additional 1,102,401 shares and owning approximately 3.37% of the company.
• The stock price of Zhihu Inc. (NYSE: ZH) opened at $5.20, with a market capitalization of $453.71 million and a PE ratio of 23.62.
• A total of 28.92% of Zhihu's stock is held by institutional investors, indicating increased interest from hedge funds in the company's stock.

Acadian Asset Management LLC lifted its stake in Zhihu Inc. Sponsored ADR (NYSE:ZH - Free Report) by 60.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,941,056 shares of the company's stock after purchasing an additional 1,102,401 shares during the quarter. Acadian Asset Management LLC owned about 3.37% of Zhihu worth $12,526,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Wolverine Trading LLC bought a new position in Zhihu in the 4th quarter valued at approximately $38,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Zhihu in the 1st quarter valued at approximately $55,000. New York State Common Retirement Fund lifted its position in Zhihu by 64.7% in the 1st quarter. New York State Common Retirement Fund now owns 52,144 shares of the company's stock valued at $223,000 after acquiring an additional 20,478 shares in the last quarter. Hsbc Holdings PLC bought a new position in Zhihu in the 1st quarter valued at approximately $123,000. Finally, BNP Paribas Financial Markets bought a new position in Zhihu in the 4th quarter valued at approximately $242,000. 28.92% of the stock is owned by institutional investors.

Zhihu Trading Up 1.5%

ZH stock opened at $5.20 on Friday. The stock has a market capitalization of $453.71 million, a PE ratio of 23.62 and a beta of 0.22. Zhihu Inc. Sponsored ADR has a 12-month low of $3.13 and a 12-month high of $6.32. The stock's 50 day simple moving average is $4.64 and its 200 day simple moving average is $4.34.

Zhihu Company Profile

Zhihu Inc operates an online content community in the People's Republic of China. Its community allows people to seek inspiration, find solutions, make decisions, and have fun. The company offers technology, business support, and consulting services; information transmission, software, and information technology services.

Want to see what other hedge funds are holding ZH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zhihu Inc. Sponsored ADR (NYSE:ZH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.