Cango Inc. to Issue — Dividend of $0.98 (NYSE:CANG)

Cango Inc. (NYSE:CANGGet Rating) declared a — dividend on Tuesday, April 26th, Wall Street Journal reports. Stockholders of record on Wednesday, May 25th will be paid a dividend of 0.98 per share on Wednesday, June 15th. The ex-dividend date of this dividend is Tuesday, May 24th.

Shares of Cango stock traded up $0.50 on Tuesday, reaching $2.86. 703,014 shares of the stock were exchanged, compared to its average volume of 201,069. Cango has a 1-year low of $1.95 and a 1-year high of $7.22. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.23 and a quick ratio of 2.23. The stock’s fifty day simple moving average is $2.75. The firm has a market capitalization of $428.64 million, a price-to-earnings ratio of -282.72 and a beta of 1.02.

Cango (NYSE:CANGGet Rating) last released its quarterly earnings data on Thursday, March 10th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.18). The company had revenue of $164.85 million for the quarter, compared to analysts’ expectations of $174.48 million. Cango had a negative return on equity of 0.05% and a negative net margin of 0.10%. During the same period in the prior year, the firm posted $1.59 EPS. On average, sell-side analysts anticipate that Cango will post 0.12 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in CANG. BlackRock Inc. lifted its holdings in shares of Cango by 3.1% in the fourth quarter. BlackRock Inc. now owns 262,770 shares of the company’s stock valued at $825,000 after purchasing an additional 7,938 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in shares of Cango in the fourth quarter valued at about $41,000. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Cango by 28.8% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 20,100 shares of the company’s stock valued at $63,000 after purchasing an additional 4,500 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Cango by 7.5% in the fourth quarter. Cetera Investment Advisers now owns 107,050 shares of the company’s stock valued at $336,000 after purchasing an additional 7,500 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Cango by 48.2% in the fourth quarter. Nuveen Asset Management LLC now owns 42,100 shares of the company’s stock valued at $132,000 after purchasing an additional 13,700 shares in the last quarter. 22.84% of the stock is currently owned by hedge funds and other institutional investors.

About Cango (Get Rating)

Cango Inc operates an automotive transaction service platform that connects dealers, original equipment manufacturer, financial institutions, car buyers, and other industry participants in the People's Republic of China. The company offers automobile trading solutions, including car sourcing, logistics, and warehousing support for dealers, as well as software as a service solutions; and facilitation of car purchases for car buyers.

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