Connor Clark & Lunn Investment Management Ltd. Has $13.34 Million Stake in Vipshop Holdings Limited (NYSE:VIPS)

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Vipshop Holdings Limited (NYSE:VIPS) by 9.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 848,059 shares of the technology company’s stock after buying an additional 75,590 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Vipshop were worth $13,340,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in Vipshop by 1,904.0% in the 2nd quarter. Blue Trust Inc. now owns 3,527 shares of the technology company’s stock valued at $46,000 after buying an additional 3,351 shares during the period. Venturi Wealth Management LLC bought a new position in Vipshop in the third quarter valued at approximately $56,000. Employees Retirement System of Texas raised its position in Vipshop by 143.2% during the second quarter. Employees Retirement System of Texas now owns 4,614 shares of the technology company’s stock valued at $60,000 after purchasing an additional 2,717 shares in the last quarter. National Bank of Canada FI acquired a new stake in shares of Vipshop in the 2nd quarter valued at $136,000. Finally, Atomi Financial Group Inc. boosted its holdings in shares of Vipshop by 6.8% in the 3rd quarter. Atomi Financial Group Inc. now owns 11,050 shares of the technology company’s stock valued at $174,000 after purchasing an additional 702 shares in the last quarter. Institutional investors own 48.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on VIPS shares. UBS Group cut Vipshop from a “buy” rating to a “neutral” rating and decreased their target price for the company from $20.00 to $12.50 in a research report on Wednesday, August 21st. StockNews.com lowered shares of Vipshop from a “buy” rating to a “hold” rating in a report on Wednesday. Citigroup cut their target price on shares of Vipshop from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday. Benchmark reiterated a “hold” rating on shares of Vipshop in a report on Wednesday. Finally, Morgan Stanley cut their price objective on Vipshop from $16.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 20th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.50.

Vipshop Stock Down 0.4 %

Shares of NYSE VIPS opened at $13.48 on Friday. The company has a market capitalization of $7.31 billion, a PE ratio of 6.45, a PEG ratio of 1.49 and a beta of 0.34. The stock’s 50 day moving average price is $14.65 and its 200-day moving average price is $14.42. Vipshop Holdings Limited has a twelve month low of $11.50 and a twelve month high of $20.19.

Vipshop (NYSE:VIPS) last issued its quarterly earnings results on Tuesday, August 20th. The technology company reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $3.43. Vipshop had a net margin of 7.50% and a return on equity of 21.04%. The company had revenue of $25.08 billion for the quarter, compared to the consensus estimate of $26.61 billion. During the same period in the previous year, the firm earned $0.51 EPS. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, research analysts expect that Vipshop Holdings Limited will post 1.97 EPS for the current fiscal year.

Vipshop Company Profile

Vipshop Holdings Limited operates online platforms in the People's Republic of China. It operates in Vip.com, Shan Shan Outlets, and Others segments. The company offers womenswear, menswear, sportswear and sporting goods, shoes and bags, accessories, baby and children products, skincare and cosmetics, home goods and other lifestyle products, and supermarket products.