MY.Alpha Management HK Advisors Ltd Makes New Investment in PDD Holdings Inc. Sponsored ADR $PDD

MY.Alpha Management HK Advisors Ltd purchased a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 145,263 shares of the company’s stock, valued at approximately $16,471,000. PDD accounts for approximately 8.8% of MY.Alpha Management HK Advisors Ltd’s investment portfolio, making the stock its 6th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in PDD. GAMMA Investing LLC grew its position in shares of PDD by 595.0% during the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after buying an additional 238 shares in the last quarter. Binnacle Investments Inc raised its holdings in PDD by 281.7% in the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after acquiring an additional 200 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in PDD by 230.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock worth $43,000 after acquiring an additional 263 shares during the last quarter. Wexford Capital LP purchased a new position in PDD in the third quarter worth approximately $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in PDD during the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Price Performance

Shares of PDD opened at $79.56 on Friday. The company has a market capitalization of $113.25 billion, a price-to-earnings ratio of 8.59, a price-to-earnings-growth ratio of 0.63 and a beta of -0.02. PDD Holdings Inc. Sponsored ADR has a 52-week low of $78.51 and a 52-week high of $139.41. The stock has a 50 day moving average price of $93.29 and a 200 day moving average price of $102.20.

PDD (NASDAQ:PDD) last released its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). The company had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.57 EPS. On average, equities analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. BNP Paribas Exane initiated coverage on shares of PDD in a research report on Monday. They issued an “underperform” rating and a $89.00 price objective on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of PDD in a research report on Thursday, May 28th. Nomura downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Barclays lowered PDD from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $165.00 to $89.00 in a report on Thursday, May 28th. Finally, Sanford C. Bernstein cut their price target on PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $128.08.

About PDD

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.