Connor Clark & Lunn Investment Management Ltd. Raises Stake in Bilibili Inc. (NASDAQ:BILI)

Connor Clark & Lunn Investment Management Ltd. increased its stake in Bilibili Inc. (NASDAQ:BILI) by 31.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,294,180 shares of the company’s stock after buying an additional 311,073 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Bilibili were worth $30,258,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BILI. First Beijing Investment Ltd grew its position in shares of Bilibili by 96.2% during the 3rd quarter. First Beijing Investment Ltd now owns 3,793,582 shares of the company’s stock worth $88,694,000 after buying an additional 1,860,496 shares in the last quarter. Quarry LP purchased a new stake in Bilibili in the second quarter worth about $29,336,000. Jennison Associates LLC grew its holdings in Bilibili by 208.4% during the 3rd quarter. Jennison Associates LLC now owns 1,807,524 shares of the company’s stock worth $42,260,000 after acquiring an additional 1,221,433 shares in the last quarter. SIH Partners LLLP increased its position in Bilibili by 145.9% during the 2nd quarter. SIH Partners LLLP now owns 1,195,420 shares of the company’s stock valued at $18,457,000 after purchasing an additional 709,200 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Bilibili by 385.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 981,969 shares of the company’s stock valued at $15,162,000 after purchasing an additional 779,614 shares in the last quarter. Institutional investors own 16.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Nomura upgraded Bilibili from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a report on Thursday, August 22nd. Barclays upped their price objective on Bilibili from $19.00 to $24.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America lifted their target price on Bilibili from $19.00 to $22.50 and gave the company a “buy” rating in a research note on Friday, October 25th. Morgan Stanley initiated coverage on shares of Bilibili in a research report on Wednesday, September 25th. They set an “equal weight” rating and a $20.00 price target for the company. Finally, Mizuho raised their price target on shares of Bilibili from $17.00 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.69.

Bilibili Trading Up 3.6 %

Shares of Bilibili stock opened at $19.19 on Thursday. The firm’s 50 day simple moving average is $20.78 and its two-hundred day simple moving average is $17.10. The firm has a market capitalization of $7.95 billion, a price-to-earnings ratio of -20.89 and a beta of 0.86. Bilibili Inc. has a 12-month low of $8.80 and a 12-month high of $31.77.

Bilibili (NASDAQ:BILI) last released its earnings results on Thursday, November 14th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.47. The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.14 billion. Bilibili had a negative return on equity of 15.17% and a negative net margin of 10.73%. The firm’s revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.39) EPS. On average, sell-side analysts predict that Bilibili Inc. will post -0.32 EPS for the current fiscal year.

About Bilibili

Bilibili Inc provides online entertainment services for the young generations in the People's Republic of China. It offers a range of digital content, including professional user generated videos, mobile games, and value-added services, such as live broadcasting, occupationally generated videos, audio drama on Maoer, and comics on Bilibili Comic.