Myriad Asset Management US LP Buys New Position in Vipshop Holdings Limited (NYSE:VIPS)

Myriad Asset Management US LP purchased a new position in shares of Vipshop Holdings Limited (NYSE:VIPS) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 121,398 shares of the technology company’s stock, valued at approximately $1,904,000. Vipshop makes up approximately 0.8% of Myriad Asset Management US LP’s holdings, making the stock its 21st biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Vipshop in the fourth quarter valued at about $64,115,000. Polaris Capital Management LLC purchased a new stake in shares of Vipshop in the fourth quarter valued at about $63,095,000. Invesco Ltd. raised its holdings in shares of Vipshop by 28.4% in the fourth quarter. Invesco Ltd. now owns 7,759,150 shares of the technology company’s stock valued at $104,516,000 after purchasing an additional 1,718,159 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Vipshop by 91.2% in the fourth quarter. Northern Trust Corp now owns 2,591,643 shares of the technology company’s stock valued at $34,909,000 after purchasing an additional 1,236,106 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Vipshop by 14.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,063,150 shares of the technology company’s stock valued at $108,608,000 after purchasing an additional 993,042 shares during the last quarter. 48.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on VIPS shares. Citigroup lowered shares of Vipshop from a “buy” rating to a “neutral” rating and set a $18.00 price target for the company. in a research report on Tuesday, April 1st. Barclays reduced their price target on shares of Vipshop from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, May 22nd. Finally, Wall Street Zen lowered shares of Vipshop from a “buy” rating to a “hold” rating in a research report on Thursday, May 29th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $15.10.

Vipshop Stock Performance

VIPS opened at $14.20 on Tuesday. The firm has a market cap of $7.29 billion, a P/E ratio of 6.79, a PEG ratio of 1.52 and a beta of 0.60. The firm has a 50-day moving average of $13.95 and a 200 day moving average of $14.30. Vipshop Holdings Limited has a fifty-two week low of $11.50 and a fifty-two week high of $17.94.

Vipshop Company Profile

Vipshop Holdings Limited operates online platforms in the People's Republic of China. It operates in Vip.com, Shan Shan Outlets, and Others segments. The company offers womenswear, menswear, sportswear and sporting goods, shoes and bags, accessories, baby and children products, skincare and cosmetics, home goods and other lifestyle products, and supermarket products.