Connor Clark & Lunn Investment Management Ltd. Cuts Holdings in Bilibili Inc. Sponsored ADR $BILI

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in Bilibili Inc. Sponsored ADR (NASDAQ:BILI) by 24.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,167,907 shares of the company’s stock after selling 379,150 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.28% of Bilibili worth $25,052,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Marathon Trading Investment Management LLC increased its holdings in Bilibili by 107.1% in the 2nd quarter. Marathon Trading Investment Management LLC now owns 44,178 shares of the company’s stock worth $948,000 after buying an additional 22,850 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Bilibili during the 2nd quarter valued at about $791,000. AdvisorShares Investments LLC purchased a new stake in shares of Bilibili during the 2nd quarter valued at about $339,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Bilibili in the second quarter worth approximately $4,111,000. Finally, Ethic Inc. raised its holdings in shares of Bilibili by 8.6% during the second quarter. Ethic Inc. now owns 27,857 shares of the company’s stock valued at $597,000 after purchasing an additional 2,206 shares during the last quarter. 16.08% of the stock is owned by institutional investors.

Bilibili Price Performance

NASDAQ BILI opened at $27.83 on Monday. The business’s fifty day moving average is $27.24 and its 200 day moving average is $23.19. Bilibili Inc. Sponsored ADR has a fifty-two week low of $14.47 and a fifty-two week high of $32.50. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market capitalization of $11.63 billion, a PE ratio of 397.57 and a beta of 0.97.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Benchmark dropped their target price on shares of Bilibili from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 22nd. Macquarie assumed coverage on Bilibili in a research note on Tuesday, October 14th. They issued an “outperform” rating and a $36.03 price target on the stock. Sanford C. Bernstein lifted their price objective on Bilibili from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Wall Street Zen downgraded Bilibili from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Bilibili in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.39.

Bilibili Profile

Bilibili Inc provides online entertainment services for the young generations in the People's Republic of China. It offers a range of digital content, including professional user generated videos, mobile games, and value-added services, such as live broadcasting, occupationally generated videos, audio drama on Maoer, and comics on Bilibili Comic.