Marshall Wace LLP purchased a new position in shares of Cango Inc. (NYSE:CANG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 79,757 shares of the company's stock, valued at approximately $351,000. Marshall Wace LLP owned approximately 0.07% of Cango at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in Cango in the fourth quarter valued at $190,000. O Shaughnessy Asset Management LLC purchased a new stake in Cango in the 4th quarter worth approximately $463,000. HCEP Management Ltd acquired a new stake in shares of Cango during the 4th quarter worth approximately $1,738,000. Finally, BIT Capital GmbH acquired a new position in shares of Cango in the 4th quarter valued at $3,670,000. Institutional investors and hedge funds own 4.22% of the company's stock.
Cango Trading Up 5.9 %
CANG traded up $0.25 on Friday, reaching $4.50. The stock had a trading volume of 369,769 shares, compared to its average volume of 293,840. Cango Inc. has a 12-month low of $1.40 and a 12-month high of $9.66. The company has a market cap of $467.02 million, a P/E ratio of 26.47 and a beta of 0.66. The business's 50-day moving average price is $3.83 and its two-hundred day moving average price is $4.09.
Cango (NYSE:CANG - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The company reported $0.07 earnings per share (EPS) for the quarter. Cango had a net margin of 51.90% and a return on equity of 3.55%. The firm had revenue of $91.52 million for the quarter.
Cango announced that its board has approved a stock buyback plan on Thursday, March 13th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's board believes its shares are undervalued.
About Cango
(
Free Report)
Cango Inc operates an automotive transaction service platform that connects dealers, original equipment manufacturers, financial institutions, car buyers, insurance brokers, and companies in the People's Republic of China. The company offers automobile trading solutions comprising car sourcing, transaction facilitation, logistics, and warehousing support for dealers through Cango Haoche app that offers new car transaction services, and Cango U-Car app that offers used-car transaction services.
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