Millennium Management LLC Increases Stake in Vipshop Holdings Limited $VIPS

Key Points

• Millennium Management LLC increased its holding in Vipshop Holdings by 33.3% in Q1, totaling 1,386,985 shares worth approximately $21.7 million.
• Several hedge funds significantly increased their stakes, with Mirae Asset Global Investments raising its holdings by an astounding 3,533.4% to 2,020,863 shares.
• Analysts have mixed opinions on Vipshop, with ratings ranging from "buy" to "hold," and a consensus target price of $18.33.

Millennium Management LLC raised its holdings in Vipshop Holdings Limited (NYSE:VIPS - Free Report) by 33.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,386,985 shares of the technology company's stock after buying an additional 346,374 shares during the quarter. Millennium Management LLC owned about 0.27% of Vipshop worth $21,748,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new stake in Vipshop in the first quarter valued at about $35,000. Brooklyn Investment Group raised its stake in Vipshop by 1,695.2% in the first quarter. Brooklyn Investment Group now owns 2,621 shares of the technology company's stock valued at $41,000 after buying an additional 2,475 shares during the last quarter. Atlas Capital Advisors Inc. raised its stake in Vipshop by 41.5% in the first quarter. Atlas Capital Advisors Inc. now owns 3,567 shares of the technology company's stock valued at $56,000 after buying an additional 1,046 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in Vipshop in the first quarter valued at about $62,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Vipshop in the first quarter valued at about $86,000. 48.82% of the stock is currently owned by hedge funds and other institutional investors.

Vipshop Price Performance

VIPS stock traded down $0.11 during trading on Thursday, hitting $18.78. 3,019,234 shares of the company traded hands, compared to its average volume of 2,312,729. The stock's 50-day simple moving average is $16.49 and its 200 day simple moving average is $15.32. The company has a market cap of $9.63 billion, a PE ratio of 10.21, a P/E/G ratio of 2.12 and a beta of 0.70. Vipshop Holdings Limited has a 1 year low of $12.14 and a 1 year high of $18.91.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wall Street Zen upgraded Vipshop from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Zacks Research cut Vipshop from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 27th. Bank of America reduced their price objective on Vipshop from $17.80 to $17.30 and set a "buy" rating for the company in a research note on Friday, July 18th. JPMorgan Chase & Co. reduced their price objective on Vipshop from $20.00 to $18.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Finally, Barclays reduced their price objective on Vipshop from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.33.

About Vipshop

Vipshop Holdings Limited operates online platforms in the People's Republic of China. It operates in Vip.com, Shan Shan Outlets, and Others segments. The company offers womenswear, menswear, sportswear and sporting goods, shoes and bags, accessories, baby and children products, skincare and cosmetics, home goods and other lifestyle products, and supermarket products.