Matthews International Capital Management LLC Takes $1.73 Million Position in Qutoutiao Inc – (NASDAQ:QTT)
Matthews International Capital Management LLC bought a new stake in shares of Qutoutiao Inc – (NASDAQ:QTT) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 439,900 shares of the company’s stock, valued at approximately $1,733,000.
Other large investors also recently bought and sold shares of the company. Enlightenment Research LLC acquired a new stake in Qutoutiao in the second quarter worth approximately $66,000. SG Americas Securities LLC acquired a new stake in Qutoutiao in the first quarter worth approximately $236,000. Stevens Capital Management LP acquired a new stake in Qutoutiao in the second quarter worth approximately $142,000. BlackRock Inc. acquired a new stake in Qutoutiao in the fourth quarter worth approximately $399,000. Finally, FMR LLC acquired a new stake in Qutoutiao in the fourth quarter worth approximately $4,510,000. 2.92% of the stock is owned by institutional investors.
Separately, Zacks Investment Research upgraded Qutoutiao from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Qutoutiao has a consensus rating of “Hold” and a consensus target price of $12.80.
Qutoutiao (NASDAQ:QTT) last released its earnings results on Monday, May 20th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01). The business had revenue of $165.80 million during the quarter, compared to analysts’ expectations of $161.90 million. On average, research analysts forecast that Qutoutiao Inc – will post -1.07 EPS for the current fiscal year.
Qutoutiao Inc operates mobile platforms for the distribution, consumption, and sharing of light entertainment content in the People's Republic of China. The company operates Qutoutiao, a mobile application that aggregates articles and short videos from professional media and freelancers and presents customized feeds to users; and Quduopai, a mobile application that allows users to create, upload, and view videos.
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