Man Group plc Invests $711,000 in Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Man Group plc bought a new stake in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 67,742 shares of the company's stock, valued at approximately $711,000.

A number of other institutional investors have also recently made changes to their positions in the business. WT Asset Management Ltd acquired a new position in Kingsoft Cloud during the fourth quarter worth $2,613,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Kingsoft Cloud by 12.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company's stock valued at $205,000 after buying an additional 2,200 shares in the last quarter. XY Capital Ltd boosted its holdings in Kingsoft Cloud by 19.1% in the 4th quarter. XY Capital Ltd now owns 86,567 shares of the company's stock worth $908,000 after buying an additional 13,909 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Kingsoft Cloud by 628.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company's stock worth $8,464,000 after buying an additional 696,094 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Kingsoft Cloud during the fourth quarter valued at approximately $226,000. Institutional investors and hedge funds own 13.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Nomura upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 target price on the stock in a report on Monday, May 5th. Nomura Securities raised Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Monday, May 5th.

Kingsoft Cloud Trading Down 5.3%

Shares of Kingsoft Cloud stock traded down $0.63 during trading hours on Friday, reaching $11.18. The stock had a trading volume of 724,056 shares, compared to its average volume of 3,465,743. The firm has a 50 day simple moving average of $13.35 and a two-hundred day simple moving average of $12.59. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of -9.31 and a beta of 2.24. Kingsoft Cloud Holdings Limited has a 1 year low of $2.02 and a 1 year high of $22.26. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10.

Kingsoft Cloud (NASDAQ:KC - Get Free Report) last issued its quarterly earnings data on Wednesday, March 19th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.06. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.11 billion. Kingsoft Cloud had a negative return on equity of 19.13% and a negative net margin of 28.41%. Kingsoft Cloud's quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS. As a group, equities research analysts anticipate that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current year.

About Kingsoft Cloud

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, network, database, big data, security, storage, and delivery solutions.