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

Several other hedge funds also recently made changes to their positions in the stock. Atlas Capital Advisors Inc. bought a new position in shares of Kingsoft Cloud in the first quarter worth $104,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Kingsoft Cloud by 50.9% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,217,394 shares of the company's stock worth $17,482,000 after buying an additional 410,492 shares in the last quarter. Townsquare Capital LLC bought a new position in Kingsoft Cloud in the 1st quarter worth about $551,000. XY Capital Ltd boosted its position in shares of Kingsoft Cloud by 303.1% during the 1st quarter. XY Capital Ltd now owns 348,912 shares of the company's stock valued at $5,010,000 after acquiring an additional 262,345 shares during the last quarter. Finally, ABC Arbitrage SA purchased a new position in shares of Kingsoft Cloud during the first quarter worth about $1,294,000. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on KC shares. Wall Street Zen downgraded shares of Kingsoft Cloud from a "hold" rating to a "sell" rating in a research note on Saturday. Nomura Securities raised shares of Kingsoft Cloud from a "hold" rating to a "strong-buy" rating in a report on Monday, May 5th. Finally, Nomura raised Kingsoft Cloud from a "neutral" rating to a "buy" rating and set a $18.30 target price on the stock in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $11.33.

Kingsoft Cloud Stock Up 5.4%

Shares of KC opened at $14.31 on Tuesday. Kingsoft Cloud Holdings Limited Sponsored ADR has a 1 year low of $2.02 and a 1 year high of $22.26. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a 50 day simple moving average of $13.39 and a two-hundred day simple moving average of $14.35. The firm has a market cap of $4.00 billion, a P/E ratio of -13.01 and a beta of 2.10.

Kingsoft Cloud 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.

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