Renaissance Technologies LLC Purchases 495,100 Shares of ZTO Express (Cayman) Inc. $ZTO

Key Points

• Renaissance Technologies increased its ZTO Express stake by 400.2% in the first quarter, purchasing 495,100 additional shares and bringing its holdings to 618,800 shares valued at approximately $15.6 million.
• Several other institutional investors also expanded their positions, with hedge funds and institutions collectively owning 41.65% of ZTO’s stock.
• Analyst sentiment remains generally positive: ZTO has a consensus “Buy” rating and an average price target of $27.03, compared with shares trading at $24.04.

Renaissance Technologies LLC raised its holdings in ZTO Express (Cayman) Inc. (NYSE:ZTO - Free Report) by 400.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 618,800 shares of the transportation company's stock after buying an additional 495,100 shares during the quarter. Renaissance Technologies LLC owned 0.11% of ZTO Express (Cayman) worth $15,575,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ZTO. Signaturefd LLC boosted its position in shares of ZTO Express (Cayman) by 22.5% during the 4th quarter. Signaturefd LLC now owns 2,693 shares of the transportation company's stock valued at $56,000 after acquiring an additional 494 shares in the last quarter. Ethic Inc. increased its stake in ZTO Express (Cayman) by 3.7% in the fourth quarter. Ethic Inc. now owns 15,943 shares of the transportation company's stock valued at $333,000 after acquiring an additional 569 shares during the period. Smartleaf Asset Management LLC raised its position in ZTO Express (Cayman) by 61.4% in the second quarter. Smartleaf Asset Management LLC now owns 2,021 shares of the transportation company's stock worth $36,000 after purchasing an additional 769 shares in the last quarter. Orion Porfolio Solutions LLC raised its position in ZTO Express (Cayman) by 7.8% in the third quarter. Orion Porfolio Solutions LLC now owns 14,617 shares of the transportation company's stock worth $281,000 after purchasing an additional 1,053 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in ZTO Express (Cayman) in the fourth quarter worth about $25,000. Institutional investors and hedge funds own 41.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ZTO. Weiss Ratings downgraded ZTO Express (Cayman) from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, May 20th. Morgan Stanley reissued an "overweight" rating and issued a $30.10 target price on shares of ZTO Express (Cayman) in a report on Wednesday, May 20th. JPMorgan Chase & Co. increased their target price on ZTO Express (Cayman) from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday, April 13th. Wall Street Zen upgraded ZTO Express (Cayman) from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Finally, Zacks Research raised ZTO Express (Cayman) from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $27.03.

ZTO Express (Cayman) Trading Up 0.8%

Shares of ZTO Express (Cayman) stock opened at $24.04 on Friday. ZTO Express has a 12-month low of $17.74 and a 12-month high of $26.20. The stock has a market capitalization of $13.55 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 0.91 and a beta of -0.22. The company has a 50-day simple moving average of $23.00 and a 200 day simple moving average of $23.71. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.16.

About ZTO Express (Cayman)

ZTO Express (Cayman) Inc is one of China's leading express delivery companies, specializing in both domestic and cross-border parcel logistics. The company operates a technology-enabled network that connects shippers, independent pickup and delivery stations, regional sorting hubs and end customers. ZTO's service portfolio includes standard express, heavy-weight parcel delivery, time-definite shipments and e-commerce logistics solutions tailored for online retailers and marketplaces.

Founded in 2002 and headquartered in Shanghai, ZTO has grown rapidly by leveraging a franchise-style operating model that engages a broad network of independent contractors.

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