Millennium Management LLC reduced its stake in BEST (NYSE:BSTI) by 32.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 405,631 shares of the company’s stock after selling 194,369 shares during the quarter. Millennium Management LLC owned 0.11% of BEST worth $3,643,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the business. Janney Montgomery Scott LLC acquired a new stake in shares of BEST in the 3rd quarter valued at approximately $127,000. Huntington National Bank acquired a new stake in shares of BEST in the 4th quarter valued at approximately $135,000. Two Sigma Investments LP acquired a new stake in shares of BEST in the 4th quarter valued at approximately $166,000. Nwam LLC acquired a new stake in shares of BEST in the 4th quarter valued at approximately $226,000. Finally, Ellington Management Group LLC acquired a new stake in shares of BEST in the 4th quarter valued at approximately $280,000. Institutional investors own 10.98% of the company’s stock.
Several research firms have recently commented on BSTI. ValuEngine raised BEST from a “sell” rating to a “hold” rating in a report on Monday, April 2nd. Zacks Investment Research raised BEST from a “sell” rating to a “hold” rating in a report on Tuesday, March 6th. Finally, KeyCorp set a $14.00 price target on BEST and gave the company a “buy” rating in a report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $14.52.
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BEST Inc operates as a smart supply chain service provider in the People's Republic of China. Its proprietary technology platform enables its ecosystem participants to operate their businesses through various SaaS-based applications. The company applies its technologies to a range of applications, such as network and route optimization, swap bodies, sorting line automation, smart warehouses, and store management.
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