Yuanbao (NASDAQ:YB) Shares Gap Down – Here’s What Happened

Yuanbao Inc. – Sponsored ADR (NASDAQ:YB) shares gapped down before the market opened on Thursday . The stock had previously closed at $16.38, but opened at $15.28. Yuanbao shares last traded at $15.7450, with a volume of 13,365 shares.

Analysts Set New Price Targets

YB has been the subject of a number of research reports. Weiss Ratings downgraded shares of Yuanbao from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Wall Street Zen downgraded Yuanbao from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $21.80.

Yuanbao Trading Down 6.0%

The stock’s 50 day moving average is $15.14 and its 200 day moving average is $17.99. The stock has a market capitalization of $693.78 million, a price-to-earnings ratio of 3.72 and a beta of 0.46.

Yuanbao Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Thursday, July 2nd will be issued a $1.26 dividend. This represents a dividend yield of 817.0%. The ex-dividend date of this dividend is Thursday, July 2nd. Yuanbao’s dividend payout ratio is 30.43%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of YB. Royal Bank of Canada acquired a new position in shares of Yuanbao during the 1st quarter worth approximately $72,000. JPMorgan Chase & Co. grew its holdings in Yuanbao by 53.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,226 shares of the company’s stock valued at $653,000 after buying an additional 11,607 shares during the last quarter. Barclays PLC grew its holdings in Yuanbao by 68.7% during the 4th quarter. Barclays PLC now owns 41,988 shares of the company’s stock valued at $851,000 after buying an additional 17,105 shares during the last quarter. Federated Hermes Inc. purchased a new position in Yuanbao during the second quarter worth $370,000. Finally, Franchise GP Ltd acquired a new position in shares of Yuanbao in the fourth quarter worth $1,351,000.

About Yuanbao

Our mission is to protect health and well-being through technology. We are a leading technology-driven online insurance distributor in China. We take pride in pioneering the seamless integration of insurance with cutting-edge technologies, and have constructed a highly efficient full consumer service cycle engine. Through this engine, we successfully distribute suitable and high-quality insurance products to over ten million insurance consumers. According to Frost & Sullivan, we were the largest independent insurance distributor in China’s personal life and accident & health (A&H) insurance market in terms of first year premiums in 2023.