Traders Buy Shares of NetEase, Inc. (NTES) on Weakness

Traders purchased shares of NetEase, Inc. (NASDAQ:NTES) on weakness during trading hours on Monday. $110.32 million flowed into the stock on the tick-up and $68.80 million flowed out of the stock on the tick-down, for a money net flow of $41.52 million into the stock. Of all stocks tracked, NetEase had the 10th highest net in-flow for the day. NetEase traded down ($1.23) for the day and closed at $271.81

Several research analysts recently commented on NTES shares. BidaskClub cut NetEase from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 16th. Deutsche Bank AG reiterated a “buy” rating and issued a $343.00 price target (up previously from $300.00) on shares of NetEase in a research note on Tuesday, July 25th. Jefferies Group LLC reiterated a “buy” rating and issued a $330.00 price target on shares of NetEase in a research note on Monday, May 22nd. Vetr upgraded NetEase from a “buy” rating to a “strong-buy” rating and set a $362.33 price target on the stock in a research note on Tuesday, May 30th. Finally, Standpoint Research cut NetEase from a “buy” rating to a “reduce” rating and boosted their price target for the stock from $345.00 to $360.00 in a research note on Wednesday, June 7th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. NetEase has a consensus rating of “Hold” and a consensus price target of $306.40.

The stock’s 50 day moving average is $286.74 and its 200 day moving average is $289.24. The stock has a market cap of $35.76 billion, a PE ratio of 17.99 and a beta of 0.96.

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 25th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Wednesday, August 23rd. NetEase’s dividend payout ratio (DPR) is presently 25.07%.

Hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. grew its position in NetEase by 51.0% during the first quarter. Assetmark Inc. now owns 367 shares of the technology company’s stock worth $104,000 after buying an additional 124 shares in the last quarter. IFP Advisors Inc grew its position in NetEase by 21.4% during the second quarter. IFP Advisors Inc now owns 391 shares of the technology company’s stock worth $118,000 after buying an additional 69 shares in the last quarter. PNC Financial Services Group Inc. grew its position in NetEase by 22.4% during the second quarter. PNC Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $161,000 after buying an additional 98 shares in the last quarter. Mariner Wealth Advisors LLC acquired a new stake in NetEase during the second quarter worth about $203,000. Finally, Huntington National Bank grew its position in NetEase by 84.7% during the second quarter. Huntington National Bank now owns 700 shares of the technology company’s stock worth $210,000 after buying an additional 321 shares in the last quarter. 50.38% of the stock is currently owned by institutional investors and hedge funds.

WARNING: This news story was first posted by Stock Observer and is owned by of Stock Observer. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright legislation. The correct version of this news story can be accessed at https://www.thestockobserver.com/2017/09/13/traders-buy-shares-of-netease-inc-ntes-on-weakness.html.

NetEase Company Profile

NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.

Receive News & Ratings for NetEase Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetEase Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply