Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Xunlei Limited (NASDAQ:XNET – Get Rating) by 25.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,276 shares of the software maker's stock after purchasing an additional 34,513 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.25% of Xunlei worth $235,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in XNET. Millennium Management LLC acquired a new position in Xunlei during the 2nd quarter valued at about $35,000. JPMorgan Chase & Co. increased its holdings in shares of Xunlei by 858.2% in the first quarter. JPMorgan Chase & Co. now owns 25,439 shares of the software maker's stock valued at $45,000 after purchasing an additional 22,784 shares during the period. UBS Group AG increased its holdings in shares of Xunlei by 2,164.5% in the third quarter. UBS Group AG now owns 52,173 shares of the software maker's stock valued at $73,000 after purchasing an additional 49,869 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Xunlei by 69.9% in the first quarter. Envestnet Asset Management Inc. now owns 50,480 shares of the software maker's stock valued at $89,000 after purchasing an additional 20,774 shares during the period. Finally, State Street Corp increased its holdings in shares of Xunlei by 16.9% in the first quarter. State Street Corp now owns 67,574 shares of the software maker's stock valued at $119,000 after purchasing an additional 9,761 shares during the period. 6.28% of the stock is currently owned by hedge funds and other institutional investors.
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XNET has been the topic of a number of research reports. StockNews.com initiated coverage on Xunlei in a report on Friday, December 9th. They issued a "buy" rating on the stock. TheStreet raised Xunlei from a "d+" rating to a "c-" rating in a report on Tuesday, November 15th.
Xunlei Stock Up 1.1 %
Xunlei stock opened at $1.89 on Friday. The firm has a market cap of $125.69 million, a price-to-earnings ratio of 6.75 and a beta of 1.25. Xunlei Limited has a 52 week low of $0.85 and a 52 week high of $2.23. The business's 50-day moving average price is $2.01 and its 200 day moving average price is $1.69. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.08.
Xunlei Company Profile
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Xunlei Ltd. is a holding company, which provides shared cloud computing and blockchain technology services. It provides a wide range of products and services across cloud acceleration, blockchain, shared cloud computing and digital entertainment to deliver an efficient internet experience. The company was founded by Sheng Long Zou and Hao Cheng in December 2002 and is headquartered in Shenzhen, China.
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