ATRenew Inc. Sponsored ADR $RERE Shares Purchased by Acadian Asset Management LLC

Acadian Asset Management LLC increased its holdings in shares of ATRenew Inc. Sponsored ADR (NYSE:RERE) by 27.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,692,149 shares of the company’s stock after acquiring an additional 579,334 shares during the quarter. Acadian Asset Management LLC’s holdings in ATRenew were worth $7,899,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Prescott Group Capital Management L.L.C. raised its stake in ATRenew by 31.3% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 3,035,436 shares of the company’s stock worth $8,742,000 after acquiring an additional 724,415 shares during the period. Invesco Ltd. increased its stake in shares of ATRenew by 45.6% in the first quarter. Invesco Ltd. now owns 2,760,925 shares of the company’s stock valued at $8,117,000 after purchasing an additional 864,048 shares during the period. Harber Asset Management LLC increased its stake in shares of ATRenew by 0.6% in the first quarter. Harber Asset Management LLC now owns 1,254,530 shares of the company’s stock valued at $3,688,000 after purchasing an additional 7,750 shares during the period. Millennium Management LLC increased its stake in shares of ATRenew by 252.3% in the fourth quarter. Millennium Management LLC now owns 659,508 shares of the company’s stock valued at $1,899,000 after purchasing an additional 472,322 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of ATRenew by 46.3% in the fourth quarter. Bank of America Corp DE now owns 578,457 shares of the company’s stock valued at $1,666,000 after purchasing an additional 183,201 shares during the period. Institutional investors and hedge funds own 19.29% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of ATRenew from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 5th.

ATRenew Trading Up 0.6%

Shares of NYSE:RERE opened at $4.34 on Friday. The firm’s 50 day moving average is $3.97 and its two-hundred day moving average is $3.18. ATRenew Inc. Sponsored ADR has a 52 week low of $2.00 and a 52 week high of $4.93. The firm has a market capitalization of $1.06 billion, a P/E ratio of 36.13 and a beta of 0.24.

ATRenew announced that its Board of Directors has approved a stock repurchase plan on Monday, June 30th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

ATRenew Company Profile

ATRenew Inc, through its subsidiaries, operates pre-owned consumer electronics transactions and services platform in the People's Republic of China. It primarily sells mobile phones, laptops, tablets, drones, digital cameras; and vintage bags, watches, liquor, gold, and various household goods through its online platforms and offline stores, as well as provides services to third-party merchants to sell the products through its platforms.