Advisors Asset Management Inc. increased its position in Bilibili Inc. (NASDAQ:BILI – Get Rating) by 13.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,381 shares of the company’s stock after buying an additional 757 shares during the quarter. Advisors Asset Management Inc.’s holdings in Bilibili were worth $163,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Employees Retirement System of Texas purchased a new position in shares of Bilibili in the second quarter worth $1,690,000. Banque Pictet & Cie SA purchased a new position in shares of Bilibili in the second quarter worth $3,080,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Bilibili by 15.5% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 64,197 shares of the company’s stock valued at $1,643,000 after purchasing an additional 8,638 shares during the period. Parallel Advisors LLC increased its position in Bilibili by 49.3% during the 2nd quarter. Parallel Advisors LLC now owns 2,720 shares of the company’s stock valued at $70,000 after purchasing an additional 898 shares during the period. Finally, James Investment Research Inc. purchased a new position in Bilibili during the 2nd quarter valued at $42,000. 23.43% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Barclays reduced their price objective on shares of Bilibili from $21.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, October 28th. Sanford C. Bernstein downgraded shares of Bilibili from a “market perform” rating to an “underperform” rating in a research report on Wednesday, October 12th. UBS Group reduced their price objective on shares of Bilibili from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, September 9th. JPMorgan Chase & Co. reduced their price objective on shares of Bilibili from $30.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 25th. Finally, Bank of America downgraded shares of Bilibili from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $42.00 to $11.50 in a research report on Wednesday, November 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.68.
Bilibili Stock Performance
Bilibili (NASDAQ:BILI – Get Rating) last announced its quarterly earnings results on Thursday, September 8th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.08). The firm had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.90 billion. Bilibili had a negative return on equity of 43.11% and a negative net margin of 43.21%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.45) EPS. Sell-side analysts anticipate that Bilibili Inc. will post -2.96 EPS for the current fiscal year.
Bilibili Inc provides online entertainment services for the young generations in the People's Republic of China. Its platform offers a range of content, including video services, mobile games, and value-added service, as well as ACG-related comic and audio content. The company's video services include professional user generated videos, occupationally generated videos, and live broadcasting.
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