LGT Fund Management Co Ltd. Acquires New Position in Bilibili Inc. Sponsored ADR (NASDAQ:BILI)

Key Points

• LGT Fund Management Co Ltd. acquired a stake in Bilibili Inc., buying 168,150 shares valued at approximately $3,213,000 in Q1.
• Several hedge funds also invested in Bilibili, with Russell Investments Group Ltd. purchasing a stake worth $26,725,000 during the same period.
• Wall Street analysts have mixed opinions on Bilibili, with ratings ranging from "strong-buy" to "hold," and an average target price of $23.81.

LGT Fund Management Co Ltd. acquired a new position in shares of Bilibili Inc. Sponsored ADR (NASDAQ:BILI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 168,150 shares of the company's stock, valued at approximately $3,213,000.

Other large investors also recently modified their holdings of the company. Federated Hermes Inc. acquired a new stake in Bilibili in the 4th quarter valued at $55,000. FNY Investment Advisers LLC acquired a new stake in Bilibili in the 1st quarter valued at $57,000. PNC Financial Services Group Inc. grew its position in Bilibili by 40.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,279 shares of the company's stock valued at $177,000 after purchasing an additional 2,676 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Bilibili by 8.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,261 shares of the company's stock valued at $178,000 after purchasing an additional 722 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new stake in Bilibili in the 4th quarter valued at $200,000. Institutional investors and hedge funds own 16.08% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on BILI shares. JPMorgan Chase & Co. downgraded shares of Bilibili from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $21.00 to $24.00 in a research report on Monday, July 28th. Wall Street Zen downgraded shares of Bilibili from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Hsbc Global Res raised shares of Bilibili to a "strong-buy" rating in a report on Wednesday, May 21st. HSBC reaffirmed a "buy" rating on shares of Bilibili in a report on Tuesday, July 15th. Finally, Sanford C. Bernstein started coverage on shares of Bilibili in a report on Tuesday, July 8th. They set an "outperform" rating and a $28.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $23.81.

Bilibili Stock Performance

Shares of NASDAQ BILI traded down $0.55 during mid-day trading on Thursday, reaching $23.82. 2,151,173 shares of the company's stock were exchanged, compared to its average volume of 2,785,960. The firm has a market capitalization of $9.96 billion, a price-to-earnings ratio of -119.09 and a beta of 0.94. Bilibili Inc. Sponsored ADR has a 52 week low of $12.72 and a 52 week high of $31.77. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a 50-day moving average price of $22.08 and a two-hundred day moving average price of $19.93.

Bilibili Profile

Bilibili Inc provides online entertainment services for the young generations in the People's Republic of China. It offers a range of digital content, including professional user generated videos, mobile games, and value-added services, such as live broadcasting, occupationally generated videos, audio drama on Maoer, and comics on Bilibili Comic.