Connor Clark & Lunn Investment Management Ltd. Has $429,000 Stake in NetEase, Inc. $NTES

Connor Clark & Lunn Investment Management Ltd. lifted its position in NetEase, Inc. (NASDAQ:NTES) by 29.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,191 shares of the technology company’s stock after buying an additional 723 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in NetEase were worth $429,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its position in NetEase by 1.1% in the fourth quarter. Brighton Jones LLC now owns 10,297 shares of the technology company’s stock worth $919,000 after acquiring an additional 117 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of NetEase by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 9,884 shares of the technology company’s stock valued at $1,017,000 after purchasing an additional 153 shares during the last quarter. Advisors Preferred LLC bought a new stake in NetEase in the first quarter worth $303,000. Avantax Advisory Services Inc. acquired a new position in NetEase during the first quarter worth $207,000. Finally, Cetera Investment Advisers increased its position in NetEase by 21.5% during the first quarter. Cetera Investment Advisers now owns 4,993 shares of the technology company’s stock worth $514,000 after buying an additional 885 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

NetEase Stock Up 0.4%

Shares of NTES stock opened at $133.95 on Friday. NetEase, Inc. has a 12 month low of $84.97 and a 12 month high of $159.55. The firm has a market cap of $84.87 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 1.91 and a beta of 0.65. The stock has a 50 day moving average of $146.84 and a 200-day moving average of $135.26.

NetEase Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, December 5th. NetEase’s dividend payout ratio is presently 30.72%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NTES. JPMorgan Chase & Co. upgraded NetEase from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $138.00 to $190.00 in a research note on Friday, October 10th. Zacks Research cut NetEase from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Arete Research upgraded NetEase to a “strong-buy” rating in a report on Wednesday, September 3rd. Morgan Stanley reissued an “overweight” rating and issued a $170.00 price target on shares of NetEase in a research report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NetEase in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, NetEase currently has a consensus rating of “Moderate Buy” and an average price target of $146.30.

NetEase Profile

NetEase, Inc engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.