Step Capital Management Pte. Ltd. Purchases 120,000 Shares of Vipshop Holdings Limited $VIPS

Key Points

• Step Capital Management increased its Vipshop position by 90.8% in the second quarter, purchasing 120,000 shares and bringing its holdings to 252,141 shares valued at approximately $3.34 million.
• Institutional ownership remains significant at 48.82%, with several investors adding new or larger positions. Analysts have a consensus “Hold” rating and an average price target of $18.52.
• Vipshop shares opened at $13.20, near their one-year low, while the company’s latest quarterly earnings of $0.12 per share fell well below the $0.59 consensus estimate despite revenue meeting expectations at $3.64 billion.

Step Capital Management Pte. Ltd. grew its holdings in shares of Vipshop Holdings Limited (NYSE:VIPS - Free Report) by 90.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 252,141 shares of the technology company's stock after purchasing an additional 120,000 shares during the quarter. Vipshop comprises approximately 0.7% of Step Capital Management Pte. Ltd.'s portfolio, making the stock its 12th biggest holding. Step Capital Management Pte. Ltd. owned 0.05% of Vipshop worth $3,343,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of VIPS. Nykredit A S purchased a new position in shares of Vipshop in the second quarter valued at $2,349,000. BTG Pactual Asset Management US LLC bought a new position in Vipshop in the 2nd quarter worth about $355,000. Wellington Management Group LLP grew its holdings in Vipshop by 15.0% during the 2nd quarter. Wellington Management Group LLP now owns 702,863 shares of the technology company's stock valued at $9,320,000 after buying an additional 91,892 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Vipshop during the second quarter valued at about $7,947,000. Finally, Ramsey Quantitative Systems purchased a new stake in shares of Vipshop in the second quarter worth about $117,000. 48.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VIPS. Barclays cut their price objective on shares of Vipshop from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Thursday, August 27th. Morgan Stanley set a $16.00 target price on shares of Vipshop in a report on Wednesday, August 26th. Nomura reiterated a "neutral" rating and issued a $14.00 target price on shares of Vipshop in a research note on Thursday, August 27th. Bank of America reissued an "underperform" rating on shares of Vipshop in a report on Friday, May 29th. Finally, UBS Group set a $18.50 price target on shares of Vipshop and gave the company a "buy" rating in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $18.52.

Vipshop Stock Performance

VIPS stock opened at $13.20 on Friday. The company has a market capitalization of $6.32 billion, a PE ratio of 4.37, a price-to-earnings-growth ratio of 2.01 and a beta of 0.67. Vipshop Holdings Limited has a one year low of $12.65 and a one year high of $21.08. The company's 50 day moving average price is $14.23 and its two-hundred day moving average price is $14.77.

Vipshop (NYSE:VIPS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 25th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.47). Vipshop had a net margin of 9.88% and a return on equity of 12.63%. The business had revenue of $3.64 billion during the quarter, compared to analysts' expectations of $3.64 billion. On average, research analysts predict that Vipshop Holdings Limited will post 1.67 EPS for the current year.

Vipshop Company Profile

Vipshop Holdings Limited NYSE: VIPS is a leading online discount retailer in China, offering high-quality branded products at competitive prices through a time-limited, flash-sales model. The company provides consumers with access to a rotating selection of merchandise, combining the excitement of limited-time offers with curated brand partnerships to drive customer engagement and loyalty.

Vipshop’s platform features a diverse range of product categories, including apparel, footwear, cosmetics, home furnishings, digital electronics and other lifestyle goods.

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