Maple Rock Capital Partners Inc. Reduces Position in JD.com, Inc. $JD

Key Points

• Maple Rock Capital Partners cut its JD.com stake by 11.8% in the second quarter, selling 355,720 shares and retaining 2.67 million shares worth approximately $68.0 million. JD.com represents about 1.4% of the fund’s portfolio, while institutional investors collectively own 15.98% of the stock.
• JD.com shares opened at $28.24, down 1.7%, with a market capitalization of roughly $35.25 billion. The company recently beat quarterly earnings and revenue estimates, reporting $0.93 in EPS and $50.99 billion in revenue, although revenue declined 2.9% year over year.
• Analysts maintain a “Moderate Buy” consensus, with nine Buy, four Hold and one Sell rating. The average price target is $35.83, despite some recent target-price reductions and mixed individual ratings.

Maple Rock Capital Partners Inc. decreased its holdings in JD.com, Inc. (NASDAQ:JD - Free Report) by 11.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,670,542 shares of the information services provider's stock after selling 355,720 shares during the period. JD.com makes up approximately 1.4% of Maple Rock Capital Partners Inc.'s investment portfolio, making the stock its 24th largest position. Maple Rock Capital Partners Inc. owned about 0.21% of JD.com worth $68,045,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of JD. Handelsbanken Fonder AB grew its position in shares of JD.com by 20.2% in the second quarter. Handelsbanken Fonder AB now owns 477,000 shares of the information services provider's stock valued at $12,154,000 after purchasing an additional 80,000 shares in the last quarter. Gradient Investments LLC increased its holdings in shares of JD.com by 5.0% in the second quarter. Gradient Investments LLC now owns 205,110 shares of the information services provider's stock valued at $5,226,000 after purchasing an additional 9,779 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in JD.com during the second quarter worth approximately $1,411,000. Assenagon Asset Management S.A. purchased a new position in JD.com during the second quarter worth approximately $250,000. Finally, 180 Wealth Advisors LLC boosted its stake in JD.com by 18.9% during the second quarter. 180 Wealth Advisors LLC now owns 25,088 shares of the information services provider's stock worth $639,000 after buying an additional 3,984 shares during the last quarter. 15.98% of the stock is owned by hedge funds and other institutional investors.

JD.com Trading Down 1.7%

JD opened at $28.24 on Tuesday. The business's 50 day moving average price is $29.30 and its 200 day moving average price is $29.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.82 and a current ratio of 1.14. The stock has a market capitalization of $35.25 billion, a PE ratio of 19.61 and a beta of 0.38. JD.com, Inc. has a one year low of $24.51 and a one year high of $36.86.

JD.com (NASDAQ:JD - Get Free Report) last posted its earnings results on Thursday, August 13th. The information services provider reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.07. The company had revenue of $50.99 billion for the quarter, compared to the consensus estimate of $50.38 billion. JD.com had a return on equity of 6.78% and a net margin of 1.13%.The company's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.97 earnings per share. As a group, equities research analysts expect that JD.com, Inc. will post 2.83 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on JD. Barclays dropped their target price on JD.com from $43.00 to $41.00 and set an "overweight" rating for the company in a report on Wednesday, July 15th. Weiss Ratings upgraded JD.com from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, July 13th. Benchmark reissued a "buy" rating on shares of JD.com in a research report on Friday, August 14th. Morgan Stanley upped their price objective on shares of JD.com from $25.00 to $27.00 and gave the company an "underweight" rating in a report on Wednesday, May 13th. Finally, Daiwa Securities Group restated a "hold" rating and set a $27.00 price objective on shares of JD.com in a research report on Tuesday, June 23rd. Nine equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $35.83.

About JD.com

JD.com is a major Chinese e-commerce company that operates a comprehensive online retail platform selling a wide range of consumer goods, including electronics, appliances, apparel, groceries and everyday household items. The company combines direct retailing—purchasing inventory and selling products itself—with a marketplace for third-party merchants, offering consumers both self-operated and third-party choices. In addition to its core retail business, JD.com has expanded into adjacent services such as digital marketplaces for cross-border commerce, online pharmacy and healthcare services, and enterprise-facing cloud and technology solutions.

A distinctive feature of JD.com's business model is its integrated logistics and fulfillment network.

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