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

Several other institutional investors and hedge funds have also made changes to their positions in the company. Harvest Portfolios Group Inc. acquired a new stake in shares of JinkoSolar during the 1st quarter valued at approximately $269,000. Jump Financial LLC raised its position 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 valued at $1,010,000 after acquiring an additional 46,129 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. raised 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 in the last quarter. Hsbc Holdings PLC raised its position in shares of JinkoSolar by 23.1% during the 1st quarter. Hsbc Holdings PLC now owns 126,175 shares of the semiconductor company's stock valued at $2,351,000 after acquiring an additional 23,652 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of JinkoSolar during the 1st quarter valued at approximately $579,000. 35.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Citigroup downgraded JinkoSolar from a "buy" rating to a "sell" rating in a research note on Monday, May 5th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $27.19.

JinkoSolar Stock Performance

Shares of NYSE:JKS traded up $0.96 on Friday, hitting $23.09. The company's stock had a trading volume of 547,330 shares, compared to its average volume of 435,226. JinkoSolar Holding Company Limited has a 12 month low of $13.42 and a 12 month high of $37.36. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -4.60 and a beta of 0.21. The stock's 50-day moving average is $22.78 and its two-hundred day moving average is $20.55. 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 2nd were paid a $0.325 dividend. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a $1.30 annualized dividend and a dividend yield of 5.6%. JinkoSolar's dividend payout ratio is presently -25.50%.

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.