Canada Life Investment Management has recently announced that it has increased stake in NetEase Inc ADR (NASDAQ:NTES) by 2,787.11%. After grabbing 6.75 million shares, the institutional investor is now in possession of 6.51 million shares of the Communication Services Company. The new investment brought the stake of investor firm to 1.05% having worth around $628.48 million. Moreover, GQG Partners LLC increased its share by 3.1 million to have a control over 3.1 million shares. And Morgan Stanley Investment Managem raised its holdings to 44914.0 shares by acquiring 1.89 million shares or 0.29% of the stake.
NetEase Inc ADR (NTES) concluded trading on Wednesday at a closing price of $100.22, with 3.27 million shares of worth about $327.86 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -5.62% during that period and On Wednesday, January 24 the price saw a gain of about 2.22%. Currently the company’s common shares owned by public are about 644.72M shares, out of which, 625.19M shares are available for trading.
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Government Pension Fund – Global, UBS, and Invesco Developing Markets Fund are the top 3 mutual funds which are holding stakes in NetEase Inc ADR Government Pension Fund – Global is currently holding 5.73 million shares of worth totaling $534.2 million. The company recently came buying 1.99 million shares which brought its stake up to 0.89% of the company’s outstanding shares. UBS sold -0.2 million shares, after which its hold over company’s outstanding shares shrunk to 0.64%, leaving 4.15 million shares with the mutual fund that have a worth of about $386.71 million. Invesco Developing Markets Fund, after selling 3.97 million shares, have now control over 0.62% of the stake in the company. It holds -0.89 million shares of worth $369.56 million.
However, the stock later moved at a day high price of 102.67, or with a gain of 2.22%. Stock saw a price change of 13.41% in past 5 days and over the past one month there was a price change of -4.01%. Year-to-date (YTD), NTES shares are showing a performance of 7.58% which increased to 11.01% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $76.85 but also hit the highest price of $118.89 during that period. The average intraday trading volume for NetEase Inc ADR shares is 2.23 million. The stock is currently trading 9.91% above its 20-day simple moving average (SMA20), while that difference is down -2.01% for SMA50 and it goes to 0.94% higher than SMA200.
Canada Life Investment Management acquired 6.75 million shares of NetEase Inc ADR having value of about $628.48 million. Data submitted at the U.S SEC by Canada Life Investment Management revealed that the firm now holds 6.51 million shares in the company valued at close to $652690567.16, or have control over 2,787.11% stake in the company. NetEase Inc ADR (NASDAQ: NTES) currently have 644.72M outstanding shares and institutions hold larger chunk of about 14.08% of that. Holding of mutual funds in the company is about 5.69% while other institutional holders and individual stake holders have control over 8.11% and — of the stake respectively.
The stock has a current market capitalization of $62.66B and its 3Y-monthly beta is at 0.56. PE ratio of stock for trailing 12 months is 17.17, while it has posted earnings per share of $5.84 in the same period. Its PEG reads 6.68 and has Quick Ratio of 2.89 while making debt-to-equity ratio of 0.10. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NTES, volatility over the week remained 2.93% while standing at 3.01% over the month.
Analysts are in expectations that NetEase Inc ADR (NTES) stock would likely to be making an EPS of $1.72 in the current quarter, while forecast for next quarter EPS is $1.78 and it is $7.21 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.53 which is $2 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.07 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 41.10% while it is estimated to increase by 2.91% in next year. EPS is likely to shrink at an annualized rate of 2.57% for next 5-years, compared to annual growth of 14.13% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Macquarie on January 11, 2024 offering an Outperform rating for the stock and assigned a target price of $126 to it.
