LB Partners LLC Acquires Shares of 22,000 PDD Holdings Inc. Sponsored ADR $PDD

LB Partners LLC bought a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 22,000 shares of the company’s stock, valued at approximately $2,248,000. PDD makes up approximately 2.0% of LB Partners LLC’s investment portfolio, making the stock its 12th largest position.

A number of other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC grew its stake in PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after buying an additional 238 shares in the last quarter. Binnacle Investments Inc boosted its holdings in shares of PDD by 281.7% in the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after acquiring an additional 200 shares during the period. Smartleaf Asset Management LLC grew its position in shares of PDD by 230.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock valued at $43,000 after purchasing an additional 263 shares in the last quarter. Wexford Capital LP bought a new stake in shares of PDD during the 3rd quarter valued at $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of PDD during the 4th quarter valued at $44,000. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Performance

PDD stock opened at $82.52 on Thursday. The firm’s fifty day moving average price is $89.24 and its 200-day moving average price is $99.86. The stock has a market cap of $117.46 billion and a P/E ratio of 8.91. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $71.94 and a fifty-two week high of $139.41.

PDD (NASDAQ:PDD) last announced its earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($1.02). PDD had a return on equity of 24.32% and a net margin of 21.86%.The company had revenue of $15.41 billion during the quarter, compared to analysts’ expectations of $15.92 billion. During the same quarter last year, the firm posted $1.57 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. On average, analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Sanford C. Bernstein decreased their price target on PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 27th. Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Nomura lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a report on Thursday, May 28th. Finally, Benchmark reduced their price target on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday, May 28th. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $124.64.

PDD Company Profile

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.