Long Corridor Asset Management Ltd Invests $1.98 Million 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 position in shares of ZTO Express (Cayman) Inc. (NYSE:ZTO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 100,000 shares of the transportation company's stock, valued at approximately $1,984,000. ZTO Express (Cayman) accounts for approximately 1.5% of Long Corridor Asset Management Ltd's investment portfolio, making the stock its 15th biggest holding.

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

ZTO Express (Cayman) Stock Down 1.7%

Shares of ZTO stock traded down $0.35 during trading hours on Thursday, hitting $19.83. 1,811,841 shares of the company's stock were exchanged, compared to its average volume of 2,180,983. The firm has a market cap of $11.86 billion, a P/E ratio of 12.55, a P/E/G ratio of 3.06 and a beta of -0.18. The firm has a 50 day moving average of $18.66 and a two-hundred day moving average of $18.87. ZTO Express has a fifty-two week low of $16.34 and a fifty-two week high of $27.50.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ZTO. JPMorgan Chase & Co. raised ZTO Express (Cayman) from a "neutral" rating to an "overweight" rating and decreased their price target for the company from $23.00 to $21.00 in a report on Thursday, May 29th. Bank of America downgraded ZTO Express (Cayman) from a "buy" rating to a "neutral" rating and decreased their price target for the company from $24.00 to $19.00 in a report on Thursday, May 22nd. Morgan Stanley set a $24.20 price target on ZTO Express (Cayman) in a report on Wednesday, July 2nd. Wall Street Zen downgraded ZTO Express (Cayman) from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Citigroup decreased their price target on ZTO Express (Cayman) from $26.40 to $22.60 and set a "buy" rating for the company in a report on Thursday, May 22nd. Two investment 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $21.76.

ZTO Express (Cayman) Company Profile

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.