Cheetah Mobile Inc (CMCM) Shares Bought by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. increased its stake in shares of Cheetah Mobile Inc (NASDAQ:CMCM) by 50.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,591 shares of the software maker’s stock after buying an additional 5,560 shares during the period. Goldman Sachs Group Inc.’s holdings in Cheetah Mobile were worth $178,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Credit Suisse AG acquired a new stake in Cheetah Mobile during the first quarter valued at about $124,000. Dynamic Technology Lab Private Ltd acquired a new stake in Cheetah Mobile during the first quarter valued at about $231,000. FMR LLC acquired a new stake in Cheetah Mobile during the first quarter valued at about $232,000. Capital Fund Management S.A. acquired a new stake in Cheetah Mobile during the first quarter valued at about $286,000. Finally, Jane Street Group LLC acquired a new stake in Cheetah Mobile during the first quarter valued at about $549,000.
Cheetah Mobile Inc (NASDAQ:CMCM) traded down 0.43% during trading on Thursday, reaching $9.36. 661,499 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $10.85 and a 200-day moving average of $10.88. Cheetah Mobile Inc has a 12 month low of $8.91 and a 12 month high of $13.79. The stock has a market cap of $1.30 billion and a PE ratio of 40.52.
Cheetah Mobile (NASDAQ:CMCM) last announced its earnings results on Tuesday, August 22nd. The software maker reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.06. Cheetah Mobile had a return on equity of 8.08% and a net margin of 5.34%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company posted ($0.44) EPS. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, equities research analysts anticipate that Cheetah Mobile Inc will post $0.40 earnings per share for the current fiscal year.
Several research firms recently issued reports on CMCM. Zacks Investment Research raised shares of Cheetah Mobile from a “hold” rating to a “strong-buy” rating and set a $12.00 price target for the company in a research report on Monday. BidaskClub downgraded shares of Cheetah Mobile from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Instinet reissued a “neutral” rating and issued a $12.00 price target (up previously from $11.50) on shares of Cheetah Mobile in a research report on Wednesday, August 23rd. Finally, Nomura lifted their price target on shares of Cheetah Mobile from $11.50 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, August 23rd. Three research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $12.00.
About Cheetah Mobile
Cheetah Mobile Inc is a holding company. The Company and its consolidated subsidiaries, variable interest entities (VIEs) and a VIE’s subsidiary are engaged in the provision of online marketing services, Internet value-added services, and Internet security services and others. The Company operates a platform that offers mobile and personal computer (PC) applications for its users and global content promotional channels for its customers, both of which are powered by its cloud-based data analytics engines.
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