Long Corridor Asset Management Ltd Makes New Investment in ZTO Express (Cayman) Inc. (NYSE:ZTO)

Key Points

• Long Corridor Asset Management Ltd has acquired 100,000 shares in ZTO Express (Cayman) Inc., valued at approximately $1,984,000, making it the 15th largest position in their portfolio.
• Other institutional investors, including Mirae Asset Global Investments and Envestnet Asset Management, have also increased their stakes in ZTO Express (Cayman) during the first quarter, indicating growing interest in the stock.
• Analysts have mixed ratings on ZTO Express (Cayman), with price targets ranging from $19.00 to $24.20, reflecting uncertainty in the stock's future performance.

Long Corridor Asset Management Ltd bought a new stake in ZTO Express (Cayman) Inc. (NYSE:ZTO - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 100,000 shares of the transportation company's stock, valued at approximately $1,984,000. ZTO Express (Cayman) comprises 1.5% of Long Corridor Asset Management Ltd's holdings, making the stock its 15th biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Todd Asset Management LLC increased its holdings in shares of ZTO Express (Cayman) by 0.7% during the first quarter. Todd Asset Management LLC now owns 1,354,716 shares of the transportation company's stock valued at $26,878,000 after purchasing an additional 9,133 shares during the period. Marshall Wace LLP increased its holdings in shares of ZTO Express (Cayman) by 831.6% during the fourth quarter. Marshall Wace LLP now owns 1,168,821 shares of the transportation company's stock valued at $22,850,000 after purchasing an additional 1,043,359 shares during the period. XY Capital Ltd increased its holdings in shares of ZTO Express (Cayman) by 162.4% during the first quarter. XY Capital Ltd now owns 1,041,263 shares of the transportation company's stock valued at $20,659,000 after purchasing an additional 644,390 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in shares of ZTO Express (Cayman) by 46.5% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 826,850 shares of the transportation company's stock valued at $16,165,000 after purchasing an additional 262,280 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of ZTO Express (Cayman) by 31.1% during the first quarter. Envestnet Asset Management Inc. now owns 577,800 shares of the transportation company's stock valued at $11,464,000 after purchasing an additional 137,202 shares during the period. 41.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ZTO. Morgan Stanley set a $24.20 price target on ZTO Express (Cayman) in a report on Wednesday, July 2nd. Wall Street Zen lowered ZTO Express (Cayman) from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Bank of America lowered ZTO Express (Cayman) from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $24.00 to $19.00 in a report on Thursday, May 22nd. Citigroup lowered their target price on ZTO Express (Cayman) from $26.40 to $22.60 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. raised ZTO Express (Cayman) from a "neutral" rating to an "overweight" rating and lowered their target price for the stock from $23.00 to $21.00 in a report on Thursday, May 29th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $21.76.

ZTO Express (Cayman) Trading Up 0.5%

NYSE:ZTO traded up $0.09 during mid-day trading on Friday, reaching $19.92. 1,618,667 shares of the stock were exchanged, compared to its average volume of 2,177,748. The business has a fifty day moving average price of $18.72 and a 200 day moving average price of $18.88. The firm has a market capitalization of $11.92 billion, a PE ratio of 12.61, a PEG ratio of 3.02 and a beta of -0.18. ZTO Express has a 1-year low of $16.34 and a 1-year high of $27.50.

About ZTO Express (Cayman)

ZTO Express (Cayman) Inc provides express delivery and other value-added logistics services in the People's Republic of China. It offers freight forwarding services; and delivery services for e-commerce and traditional merchants, and other express service users. The company was founded in 2002 and is headquartered in Shanghai, the People's Republic of China.