SG Americas Securities LLC trimmed its holdings in shares of JinkoSolar Holding Company Limited (NYSE:JKS – Free Report) by 46.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 104,036 shares of the semiconductor company’s stock after selling 90,195 shares during the quarter. SG Americas Securities LLC’s holdings in JinkoSolar were worth $2,644,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in JKS. Raymond James Financial Inc. bought a new position in shares of JinkoSolar in the second quarter valued at $47,000. Banque Cantonale Vaudoise acquired a new stake in shares of JinkoSolar during the 4th quarter valued at $58,000. Leonteq Securities AG bought a new stake in shares of JinkoSolar during the 4th quarter worth $101,000. Federation des caisses Desjardins du Quebec boosted its stake in shares of JinkoSolar by 277.9% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company’s stock worth $183,000 after acquiring an additional 5,211 shares in the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new position in shares of JinkoSolar in the 4th quarter worth $205,000. Institutional investors and hedge funds own 35.82% of the company’s stock.
Insider Transactions at JinkoSolar
In other JinkoSolar news, Director Xianhua Li sold 1,280,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $25.53, for a total value of $32,678,400.00. Following the transaction, the director owned 10,349,612 shares in the company, valued at approximately $264,225,594.36. This represents a 11.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wing Keong Siew sold 16,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $26.11, for a total transaction of $417,760.00. Following the completion of the transaction, the director directly owned 186,000 shares in the company, valued at $4,856,460. This trade represents a 7.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 19.80% of the stock is owned by corporate insiders.
JinkoSolar Stock Performance
JinkoSolar (NYSE:JKS – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported ($1.52) earnings per share for the quarter, beating the consensus estimate of ($1.84) by $0.32. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.09 billion. JinkoSolar had a negative return on equity of 9.52% and a negative net margin of 5.62%. On average, sell-side analysts anticipate that JinkoSolar Holding Company Limited will post -2.76 EPS for the current fiscal year.
JinkoSolar Announces Dividend
The firm also recently announced an annual dividend, which will be paid on Thursday, July 9th. Shareholders of record on Monday, June 22nd will be paid a dividend of $1.50 per share. This represents a yield of 837.0%. The ex-dividend date of this dividend is Monday, June 22nd. JinkoSolar’s payout ratio is -15.20%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on JKS shares. Wall Street Zen raised JinkoSolar from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Freedom Capital upgraded JinkoSolar from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. Daiwa Securities Group raised JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 price target on the stock in a research note on Tuesday, March 24th. Weiss Ratings downgraded JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Finally, UBS Group upped their price objective on shares of JinkoSolar from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $24.38.
Read Our Latest Research Report on JKS
JinkoSolar Company Profile
JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.
JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.
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