Man Group plc Purchases Shares of 67,742 Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Man Group plc purchased a new stake in shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 67,742 shares of the company’s stock, valued at approximately $711,000.

A number of other hedge funds have also added to or reduced their stakes in KC. WT Asset Management Ltd acquired a new position in Kingsoft Cloud during the 4th quarter valued at about $2,613,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Kingsoft Cloud by 12.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,549 shares of the company’s stock worth $205,000 after buying an additional 2,200 shares in the last quarter. XY Capital Ltd boosted its stake in shares of Kingsoft Cloud by 19.1% in the 4th quarter. XY Capital Ltd now owns 86,567 shares of the company’s stock worth $908,000 after buying an additional 13,909 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Kingsoft Cloud by 628.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 806,902 shares of the company’s stock worth $8,464,000 after buying an additional 696,094 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Kingsoft Cloud in the 4th quarter worth approximately $226,000. Institutional investors and hedge funds own 13.40% of the company’s stock.

Kingsoft Cloud Trading Down 2.6%

NASDAQ:KC opened at $13.06 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $3.59 billion, a PE ratio of -10.88 and a beta of 2.24. The firm’s 50 day moving average is $13.68 and its 200 day moving average is $12.49. Kingsoft Cloud Holdings Limited has a 12 month low of $2.02 and a 12 month high of $22.26.

Kingsoft Cloud (NASDAQ:KC) last posted its quarterly earnings results on Wednesday, March 19th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Kingsoft Cloud had a negative net margin of 28.41% and a negative return on equity of 19.13%. Kingsoft Cloud’s revenue was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 EPS. Sell-side analysts expect that Kingsoft Cloud Holdings Limited will post -0.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on KC shares. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $18.30 target price on the stock in a research note on Monday, May 5th. Nomura Securities upgraded Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 5th.

Kingsoft Cloud Profile

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, network, database, big data, security, storage, and delivery solutions.