Folger Hill Asset Management LP lowered its position in Bilibili Inc – (NASDAQ:BILI) by 83.0% in the third quarter, HoldingsChannel.com reports. The firm owned 42,100 shares of the company’s stock after selling 205,934 shares during the quarter. Bilibili makes up about 3.4% of Folger Hill Asset Management LP’s holdings, making the stock its 10th largest position. Folger Hill Asset Management LP’s holdings in Bilibili were worth $568,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Glen Harbor Capital Management LLC acquired a new stake in Bilibili in the second quarter valued at about $105,000. Comerica Bank acquired a new stake in Bilibili in the second quarter valued at about $144,000. Tiverton Asset Management LLC acquired a new stake in Bilibili in the second quarter valued at about $202,000. Russell Investments Group Ltd. acquired a new stake in Bilibili in the second quarter valued at about $332,000. Finally, IFP Advisors Inc acquired a new stake in Bilibili in the second quarter valued at about $351,000. Hedge funds and other institutional investors own 12.19% of the company’s stock.
BILI stock opened at $14.33 on Thursday. Bilibili Inc – has a 12-month low of $9.09 and a 12-month high of $22.70.
Bilibili (NASDAQ:BILI) last posted its quarterly earnings results on Tuesday, November 20th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.02). The firm had revenue of $157.08 million for the quarter, compared to the consensus estimate of $147.46 million. On average, research analysts forecast that Bilibili Inc – will post -0.43 earnings per share for the current fiscal year.
BILI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Bilibili from $16.00 to $14.00 and set an “overweight” rating for the company in a research report on Wednesday, August 29th. Bank of America reduced their price objective on shares of Bilibili from $17.30 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, September 11th. Morgan Stanley downgraded shares of Bilibili from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $13.50 to $11.00 in a research report on Monday, September 24th. Finally, Zacks Investment Research downgraded shares of Bilibili from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th.
Bilibili Inc provides online entertainment services for the young generations in the People's Republic of China. It offers a platform that covers a range of genres and media formats, including videos, live broadcasting, and mobile games. Bilibili Inc has a strategic collaboration agreement with Tencent Holdings Limited for sharing and operating existing and additional anime and games on its platform in China.
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