Patten Group Inc. Trims Stake in JD.Com Inc (JD)
Patten Group Inc. trimmed its stake in shares of JD.Com Inc (NASDAQ:JD) by 36.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,338 shares of the information services provider’s stock after selling 3,558 shares during the period. Patten Group Inc.’s holdings in JD.Com were worth $165,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Scopia Capital Management LP lifted its holdings in JD.Com by 7.6% in the second quarter. Scopia Capital Management LP now owns 5,049,272 shares of the information services provider’s stock valued at $196,669,000 after buying an additional 358,042 shares during the period. East Coast Asset Management LLC. lifted its holdings in JD.Com by 32.7% in the second quarter. East Coast Asset Management LLC. now owns 440,105 shares of the information services provider’s stock valued at $17,142,000 after buying an additional 108,459 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in JD.Com by 95.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 29,869 shares of the information services provider’s stock valued at $1,163,000 after buying an additional 14,591 shares during the period. First Trust Advisors LP lifted its holdings in JD.Com by 3.3% in the third quarter. First Trust Advisors LP now owns 1,070,365 shares of the information services provider’s stock valued at $27,926,000 after buying an additional 34,540 shares during the period. Finally, Dimension Capital Management LLC lifted its holdings in JD.Com by 510.3% in the third quarter. Dimension Capital Management LLC now owns 34,893 shares of the information services provider’s stock valued at $910,000 after buying an additional 29,176 shares during the period. Institutional investors own 47.24% of the company’s stock.
JD.Com stock traded up $0.42 during mid-day trading on Friday, reaching $21.65. The company’s stock had a trading volume of 2,183,551 shares, compared to its average volume of 18,544,972. The company has a market cap of $25.83 billion, a P/E ratio of 2,165.00 and a beta of 1.37. JD.Com Inc has a 12 month low of $19.21 and a 12 month high of $50.68. The company has a current ratio of 0.90, a quick ratio of 0.57 and a debt-to-equity ratio of 0.15.
Several equities research analysts have weighed in on JD shares. ValuEngine upgraded shares of JD.Com from a “sell” rating to a “hold” rating in a report on Thursday. MKM Partners cut their target price on shares of JD.Com from $41.00 to $35.00 and set a “buy” rating on the stock in a report on Friday. Cowen reiterated a “neutral” rating on shares of JD.Com in a report on Wednesday, November 21st. Zacks Investment Research lowered shares of JD.Com from a “hold” rating to a “strong sell” rating in a report on Saturday, November 3rd. Finally, Credit Suisse Group set a $31.00 target price on shares of JD.Com and gave the stock a “buy” rating in a report on Tuesday, November 20th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $35.19.
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JD.com, Inc, through its subsidiaries, operates as an e-commerce company and retail infrastructure service provider in the People's Republic of China. It operates in two segments, JD Mall and New Businesses. The company offers home appliances; mobile handsets and other digital products; desktop, laptop, and other computers, as well as printers and other office equipment; furniture and household goods; apparel; cosmetics, personal care items, and pet products; women's shoes, bags, jewelry, and luxury goods; men's shoes, sports gears, and fitness equipment; automobiles and accessories; mother and childcare products, toys, and instruments; and food, beverage, and fresh produce.
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