ATRenew Inc. Sponsored ADR $RERE Stock Holdings Raised by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its holdings in ATRenew Inc. by 27.4%, owning approximately 2.69 million shares valued at $7.9 million.
• Wall Street analysts downgraded ATRenew from a "strong-buy" rating to a "buy" rating as of September 5th.
• ATRenew Inc. has authorized a stock repurchase program, signaling that its management believes the stock is undervalued.

Acadian Asset Management LLC grew its stake in ATRenew Inc. Sponsored ADR (NYSE:RERE - Free Report) by 27.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,692,149 shares of the company's stock after purchasing an additional 579,334 shares during the quarter. Acadian Asset Management LLC owned approximately 1.10% of ATRenew worth $7,899,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Harber Asset Management LLC raised its stake in shares of ATRenew by 0.6% in the 1st quarter. Harber Asset Management LLC now owns 1,254,530 shares of the company's stock valued at $3,688,000 after purchasing an additional 7,750 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of ATRenew by 15.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 66,119 shares of the company's stock valued at $194,000 after purchasing an additional 9,094 shares in the last quarter. Walleye Capital LLC raised its stake in shares of ATRenew by 2.5% in the 1st quarter. Walleye Capital LLC now owns 444,584 shares of the company's stock valued at $1,307,000 after purchasing an additional 10,725 shares in the last quarter. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of ATRenew in the 1st quarter valued at about $32,000. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of ATRenew in the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 19.29% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of ATRenew from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th.

ATRenew Stock Performance

Shares of ATRenew stock opened at $4.34 on Friday. The firm has a market cap of $1.06 billion, a PE ratio of 36.13 and a beta of 0.24. ATRenew Inc. Sponsored ADR has a 1 year low of $2.00 and a 1 year high of $4.93. The firm's 50-day simple moving average is $3.97 and its 200-day simple moving average is $3.18.

ATRenew announced that its board has authorized a stock repurchase program on Monday, June 30th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

ATRenew Company Profile

ATRenew Inc, through its subsidiaries, operates pre-owned consumer electronics transactions and services platform in the People's Republic of China. It primarily sells mobile phones, laptops, tablets, drones, digital cameras; and vintage bags, watches, liquor, gold, and various household goods through its online platforms and offline stores, as well as provides services to third-party merchants to sell the products through its platforms.

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