Canada Life Investment Management recently announced the acquisition of new stake in NetEase Inc ADR (NASDAQ:NTES). The institutional investor has increased its shareholding in the Communication Services company by 2,787.11% to 6.75 million shares with purchase of 6.51 million shares. This fresh investment now brings its stake to 1.05% valued currently at $765.56 million. In addition, GQG Partners LLC raised its holdings by 3.1 million to 3.1 million shares. And Morgan Stanley Investment Managem has lifted its position by 2.43% or 44914.0 shares – to 1.89 million shares.
With over 21.14 million NetEase Inc ADR (NTES) shares trading Friday and a closing price of $87.64 on the day, the dollar volume was approximately $1.85 billion. The shares have shown a negative half year performance of -5.26% and its price on 12/22/23 lost nearly -16.07%. Currently, there are 644.72M common shares owned by the public and among those 625.19M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 41 analysts who have offered their price forecasts for NTES have a consensus price objective of $209.81. The analysts have set the share’s price value over the next 12 months at a high of $267.00 and a low of $130.00. The average price target is 35.61% above its recent price level and an upside to the estimated low will see the stock gain 32.58% over that period. But an upside of 67.18% will see the stock hit the forecast high price target while median target price for the stock is $210.72.
The top 3 mutual fund holders in NetEase Inc ADR are Government Pension Fund – Global, Invesco Developing Markets Fund, and UBS. Government Pension Fund – Global owns 5.73 million shares of the company’s stock, all valued at over $650.72 million. The company bought an additional 1.99 million shares recently to bring their total holdings to about 0.89% of the shares outstanding. Invesco Developing Markets Fund sold -1.03 million shares to see its total holdings shrink to 4.86 million shares valued at over $551.21 million and representing 0.75% of the shares outstanding. UBS sold -0.2 million shares to bring its total holdings to over 4.15 million shares at a value of $471.06 million. UBS now owns shares totaling to 0.64% of the shares outstanding.
Shares of NetEase Inc ADR (NASDAQ: NTES) opened at $82.00, down -$22.41 from a prior closing price of $104.41. However, the script later moved the day high at 90.46, down -16.07%. The company’s stock has a 5-day price change of -14.83% and -13.08% over the past three months. NTES shares are trading 20.66% year to date (YTD), with the 12-month market performance up to 21.24% higher. It has a 12-month low price of $70.59 and touched a high of $118.89 over the same period. NTES has an average intraday trading volume of 1.16 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -18.01%, -19.23%, and -11.35% respectively.
Institutional ownership of NetEase Inc ADR (NASDAQ: NTES) shares accounts for 14.11% of the company’s 644.72M shares outstanding. Mutual fund holders own 5.23%, while other institutional holders and individual stakeholders account for 8.57% and — respectively.
It has a market capitalization of $54.79B and a beta (3y monthly) value of 0.59. The stock’s trailing 12-month PE ratio is 15.02, while the earnings-per-share (ttm) stands at $5.84. The company has a PEG of 5.84 and a Quick Ratio of 2.89 with the debt-to-equity ratio at 0.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.56% over the week and 2.37% over the month.
Analysts forecast that NetEase Inc ADR (NTES) will achieve an EPS of $1.74 for the current quarter, $1.77 for the next quarter and $7.27 for 2024. The lowest estimate earnings-per-share for the quarter is $1.55 while analysts give the company a high EPS estimate of $2.03. Comparatively, EPS for the current quarter was $1.07 a year ago. Earnings per share for the fiscal year are expected to increase by 41.00%, and 2.77% over the next financial year. EPS should shrink at an annualized rate of 2.57% over the next five years, compared to 14.13% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 41 brokerage firm advisors rate NetEase Inc ADR (NTES) as a “Strong Buy” at a consensus score of 1.32. Specifically, 32 Wall Street analysts polled rate the stock as a buy, while 1 of the 41 advise that investors “hold,” and 1 rated it as a “Sell.”
