Step Capital Management Pte. Ltd. Invests $24.59 Million in Bilibili Inc. Sponsored ADR $BILI

Step Capital Management Pte. Ltd. purchased a new position in Bilibili Inc. Sponsored ADR (NASDAQ:BILI) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,000,000 shares of the company’s stock, valued at approximately $24,590,000. Bilibili accounts for 11.3% of Step Capital Management Pte. Ltd.’s portfolio, making the stock its 4th biggest holding. Step Capital Management Pte. Ltd. owned about 0.24% of Bilibili at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in shares of Bilibili by 226.9% during the third quarter. Farther Finance Advisors LLC now owns 2,187 shares of the company’s stock worth $61,000 after purchasing an additional 1,518 shares in the last quarter. Hantz Financial Services Inc. increased its stake in Bilibili by 253.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,639 shares of the company’s stock worth $102,000 after buying an additional 2,608 shares during the period. JPMorgan Chase & Co. increased its stake in Bilibili by 25.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,295 shares of the company’s stock worth $114,000 after buying an additional 1,081 shares during the period. Advisors Preferred LLC acquired a new position in Bilibili in the 3rd quarter worth $213,000. Finally, Compound Planning Inc. acquired a new position in Bilibili in the 3rd quarter worth $224,000. Hedge funds and other institutional investors own 16.08% of the company’s stock.

Bilibili Price Performance

Shares of BILI stock opened at $23.05 on Monday. The firm has a market cap of $9.56 billion, a P/E ratio of 60.66 and a beta of 0.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.36 and a quick ratio of 1.64. Bilibili Inc. Sponsored ADR has a 1-year low of $14.47 and a 1-year high of $36.40. The firm has a fifty day moving average of $28.01 and a two-hundred day moving average of $27.67.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BILI. Wall Street Zen downgraded Bilibili from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Bilibili in a report on Wednesday, January 21st. Citigroup upgraded Bilibili from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Friday, March 27th. Finally, JPMorgan Chase & Co. upgraded Bilibili from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $27.00 to $35.00 in a report on Tuesday, March 17th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.50.

Bilibili Company Profile

Bilibili (NASDAQ: BILI) is a leading Chinese online entertainment platform renowned for its focus on animation, comics and games (ACG) content. The company operates a video-sharing website where users can view, upload and comment on a wide range of content, from full-length anime episodes to user-generated short videos. In addition to on-demand streaming, Bilibili offers live broadcasting services that connect creators with fans through real-time interaction features such as “bullet comments” that flow across the screen.

Beyond its core video community, Bilibili generates revenue through multiple value-added services.