Short Interest in NetEase, Inc. (NASDAQ:NTES) Declines By 15.7%
by Danessa Lincoln · The Markets DailyNetEase, Inc. (NASDAQ:NTES – Get Free Report) saw a significant drop in short interest in March. As of March 13th, there was short interest totaling 2,094,880 shares, a drop of 15.7% from the February 26th total of 2,483,751 shares. Based on an average daily trading volume, of 1,149,198 shares, the days-to-cover ratio is currently 1.8 days. Approximately 0.7% of the shares of the company are sold short.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in NetEase by 68,860.6% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock worth $1,299,684,000 after purchasing an additional 8,538,717 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of NetEase by 1,636.4% during the 3rd quarter. Bank of Montreal Can now owns 662,557 shares of the technology company’s stock worth $100,702,000 after buying an additional 624,399 shares in the last quarter. PBU The Pension Fund of Early Childhood & Youth Educators acquired a new position in shares of NetEase during the 4th quarter worth $44,214,000. Man Group plc lifted its position in shares of NetEase by 33.3% during the 2nd quarter. Man Group plc now owns 983,156 shares of the technology company’s stock worth $132,313,000 after buying an additional 245,872 shares during the last quarter. Finally, Causeway Capital Management LLC lifted its position in shares of NetEase by 44.6% during the 3rd quarter. Causeway Capital Management LLC now owns 638,315 shares of the technology company’s stock worth $97,017,000 after buying an additional 196,821 shares during the last quarter. 11.07% of the stock is owned by institutional investors.
NetEase Stock Performance
Shares of NASDAQ NTES traded up $1.06 during mid-day trading on Wednesday, reaching $113.00. The company had a trading volume of 181,044 shares, compared to its average volume of 831,059. The firm has a market cap of $71.60 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 1.40 and a beta of 0.74. The business’s 50-day simple moving average is $119.77 and its 200 day simple moving average is $134.91. NetEase has a one year low of $88.54 and a one year high of $159.55.
NetEase Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 16th were given a dividend of $1.16 per share. The ex-dividend date was Monday, March 16th. This represents a $4.64 annualized dividend and a dividend yield of 4.1%. This is a positive change from NetEase’s previous quarterly dividend of $0.57. NetEase’s dividend payout ratio (DPR) is 63.08%.
Analyst Ratings Changes
A number of research firms recently commented on NTES. Benchmark reaffirmed a “buy” rating on shares of NetEase in a research report on Thursday, February 12th. Morgan Stanley reissued an “overweight” rating and issued a $154.00 price objective on shares of NetEase in a report on Monday, March 2nd. Citigroup restated a “buy” rating on shares of NetEase in a research report on Wednesday, February 11th. Barclays lowered their target price on shares of NetEase from $135.00 to $132.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NetEase in a research report on Monday, December 22nd. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, NetEase currently has an average rating of “Moderate Buy” and an average target price of $153.89.
Get Our Latest Stock Analysis on NTES
NetEase Company Profile
NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.
The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.