Russell Investments Group Ltd. Makes New Investment in Kingsoft Cloud Holdings Limited Sponsored ADR $KC

Key Points

• Russell Investments Group Ltd. has made a significant new investment in Kingsoft Cloud, purchasing 736,279 shares valued at approximately $10.57 million, representing 0.27% of the company.
• Several other hedge funds also increased their positions in Kingsoft Cloud, with notable growth from Connor Clark & Lunn Investment Management Ltd. (up 50.9%) and XY Capital Ltd. (up 303.1%) during the first quarter.
• Analysts have mixed opinions on Kingsoft Cloud's stock; while one analyst downgraded it to a "sell" rating, another raised it to "strong-buy," with a consensus target price of $11.33.

Russell Investments Group Ltd. acquired a new stake in shares of Kingsoft Cloud Holdings Limited Sponsored ADR (NASDAQ:KC - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 736,279 shares of the company's stock, valued at approximately $10,573,000. Russell Investments Group Ltd. owned approximately 0.27% of Kingsoft Cloud at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Man Group plc bought a new stake in shares of Kingsoft Cloud in the 4th quarter valued at about $711,000. Invesco Ltd. raised its holdings in shares of Kingsoft Cloud by 8.4% in the 4th quarter. Invesco Ltd. now owns 62,855 shares of the company's stock valued at $659,000 after purchasing an additional 4,878 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of Kingsoft Cloud by 13.8% in the 4th quarter. Two Sigma Advisers LP now owns 27,200 shares of the company's stock valued at $285,000 after purchasing an additional 3,300 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Kingsoft Cloud by 4,098.3% in the 4th quarter. Millennium Management LLC now owns 895,004 shares of the company's stock valued at $9,389,000 after purchasing an additional 873,686 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Kingsoft Cloud in the 4th quarter valued at about $119,000. Institutional investors own 13.40% of the company's stock.

Kingsoft Cloud Stock Up 9.2%

Shares of NASDAQ KC traded up $1.25 during trading hours on Friday, hitting $14.82. 3,374,558 shares of the stock were exchanged, compared to its average volume of 1,693,618. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. The company has a market cap of $4.14 billion, a PE ratio of -13.00 and a beta of 2.10. The firm has a fifty day moving average price of $13.48 and a 200-day moving average price of $14.30. Kingsoft Cloud Holdings Limited Sponsored ADR has a 12 month low of $2.02 and a 12 month high of $22.26.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on KC shares. Wall Street Zen upgraded shares of Kingsoft Cloud from a "sell" rating to a "hold" rating in a report on Sunday. Zacks Research upgraded shares of Kingsoft Cloud from a "strong sell" rating to a "hold" rating in a report on Thursday. Nomura upgraded shares of Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 price target for the company in a report on Monday, May 5th. Finally, Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $15.40.

Kingsoft Cloud Company Profile

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.