Causeway Capital Management LLC Buys New Stake in JinkoSolar Holding Company Limited $JKS

Key Points

• Causeway Capital Management LLC invested approximately $1.40 million in JinkoSolar Holding Company Limited by purchasing 75,084 shares, representing 0.15% of the company.
• Several hedge funds also acquired shares of JinkoSolar, with significant increases in holdings by Jump Financial and Greenwoods Asset Management, contributing to 35.82% institutional ownership in the company.
• Analysts' sentiment on JinkoSolar has shifted, with Citigroup downgrading the stock from a "buy" to a "sell," resulting in an average rating of "Reduce" and a price target of $27.19.

Causeway Capital Management LLC bought a new stake in shares of JinkoSolar Holding Company Limited (NYSE:JKS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 75,084 shares of the semiconductor company's stock, valued at approximately $1,400,000. Causeway Capital Management LLC owned 0.15% of JinkoSolar as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of JKS. Harvest Portfolios Group Inc. purchased a new position in shares of JinkoSolar in the first quarter worth approximately $269,000. Jump Financial LLC boosted its stake in shares of JinkoSolar by 573.2% during the 1st quarter. Jump Financial LLC now owns 54,176 shares of the semiconductor company's stock worth $1,010,000 after acquiring an additional 46,129 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. grew its position in shares of JinkoSolar by 37.0% during the 1st quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 780,933 shares of the semiconductor company's stock valued at $14,557,000 after acquiring an additional 211,000 shares during the period. Hsbc Holdings PLC increased its stake in shares of JinkoSolar by 23.1% in the 1st quarter. Hsbc Holdings PLC now owns 126,175 shares of the semiconductor company's stock worth $2,351,000 after purchasing an additional 23,652 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of JinkoSolar in the 1st quarter worth $579,000. Institutional investors own 35.82% of the company's stock.

JinkoSolar Price Performance

Shares of JinkoSolar stock traded down $0.27 on Thursday, hitting $22.23. 369,620 shares of the company traded hands, compared to its average volume of 443,905. The stock has a market capitalization of $1.14 billion, a P/E ratio of -4.43 and a beta of 0.21. The business has a 50-day simple moving average of $22.71 and a 200 day simple moving average of $20.53. JinkoSolar Holding Company Limited has a 52 week low of $13.42 and a 52 week high of $37.36. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.07 and a current ratio of 1.33.

JinkoSolar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 2nd were issued a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Wednesday, July 2nd. JinkoSolar's payout ratio is -25.50%.

Analysts Set New Price Targets

Separately, Citigroup downgraded JinkoSolar from a "buy" rating to a "sell" rating in a research report on Monday, May 5th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $27.19.

About JinkoSolar

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.