Euro Pacific Asset Management LLC Acquires New Holdings in NetEase, Inc. $NTES

Key Points

• Euro Pacific Asset Management initiated a NetEase position by purchasing 11,495 shares valued at approximately $1.4 million. Hedge funds and institutional investors collectively own 11.07% of the company.
• NetEase shares recently traded near $124.76, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $159.86.
• NetEase reduced its quarterly dividend to $0.48 per share from $0.72, implying an annualized dividend of $1.92 and a 1.5% yield.

Euro Pacific Asset Management LLC bought a new position in shares of NetEase, Inc. (NASDAQ:NTES - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,495 shares of the technology company's stock, valued at approximately $1,400,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in shares of NetEase during the 1st quarter valued at $25,000. MidFirst Bank purchased a new stake in shares of NetEase in the fourth quarter worth $57,000. Allworth Financial LP raised its position in shares of NetEase by 210.2% in the second quarter. Allworth Financial LP now owns 667 shares of the technology company's stock worth $85,000 after buying an additional 452 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in NetEase by 16.0% during the first quarter. EverSource Wealth Advisors LLC now owns 777 shares of the technology company's stock valued at $87,000 after buying an additional 107 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new position in NetEase during the second quarter worth about $102,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

NetEase Price Performance

NTES stock traded down $0.65 during mid-day trading on Tuesday, hitting $124.76. 503,797 shares of the stock were exchanged, compared to its average volume of 846,240. The business has a fifty day moving average price of $121.63 and a 200 day moving average price of $121.00. NetEase, Inc. has a 12 month low of $106.06 and a 12 month high of $153.54. The stock has a market capitalization of $79.88 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.46 and a beta of 0.68.

NetEase Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Thursday, September 3rd were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Thursday, September 3rd. This is a negative change from NetEase's previous quarterly dividend of $0.72. NetEase's dividend payout ratio (DPR) is presently 26.31%.

Insider Activity at NetEase

In related news, VP Aileen Mo sold 716 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $120.64, for a total transaction of $86,378.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 54.70% of the company's stock.

Analyst Ratings Changes

NTES has been the subject of a number of research analyst reports. Sanford C. Bernstein reiterated an "outperform" rating and set a $160.00 price target on shares of NetEase in a research report on Friday, August 21st. Weiss Ratings lowered NetEase from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, August 4th. The Goldman Sachs Group set a $169.00 price objective on shares of NetEase in a research report on Wednesday, July 1st. BNP Paribas Exane assumed coverage on shares of NetEase in a research note on Tuesday, September 22nd. They issued an "outperform" rating and a $180.00 target price on the stock. Finally, Nomura boosted their price target on shares of NetEase from $155.00 to $157.00 and gave the stock a "buy" rating in a research note on Tuesday, August 25th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, NetEase has a consensus rating of "Moderate Buy" and an average price target of $159.86.

NetEase Company Profile

NetEase, Inc NASDAQ: NTES is a China-based internet technology company founded in 1997 by William Ding, who serves as the company's chief executive officer and director. The company develops and operates online services for consumers in China and international markets.

NetEase's primary business is online games, including role-playing, multiplayer, mobile and personal-computer titles. Its portfolio includes franchises such as Fantasy Westward Journey, Westward Journey Online, Knives Out, Identity V and Onmyoji.

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