Myriad Asset Management Ltd. purchased a new position in shares of ZTO Express (Cayman) Inc (NYSE:ZTO) during the first quarter, HoldingsChannel reports. The fund purchased 89,500 shares of the transportation company’s stock, valued at approximately $1,636,000.
Several other hedge funds have also modified their holdings of ZTO. Huntington National Bank increased its holdings in ZTO Express (Cayman) by 40.3% in the 4th quarter. Huntington National Bank now owns 3,066 shares of the transportation company’s stock valued at $49,000 after purchasing an additional 880 shares during the last quarter. Quadrant Capital Group LLC acquired a new stake in ZTO Express (Cayman) in the first quarter valued at about $189,000. Quantamental Technologies LLC acquired a new stake in ZTO Express (Cayman) in the first quarter valued at about $199,000. OLD National Bancorp IN acquired a new stake in ZTO Express (Cayman) in the fourth quarter valued at about $186,000. Finally, World Asset Management Inc acquired a new stake in ZTO Express (Cayman) in the first quarter valued at about $219,000. 36.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of ZTO stock traded up $0.12 during mid-day trading on Wednesday, reaching $18.61. 65,579 shares of the stock traded hands, compared to its average volume of 2,043,063. ZTO Express has a 1-year low of $14.69 and a 1-year high of $22.67. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of 24.06 and a beta of 0.72.
Several research firms recently weighed in on ZTO. TheStreet lowered ZTO Express (Cayman) from a “b+” rating to a “c” rating in a research note on Wednesday, May 1st. UBS Group raised ZTO Express (Cayman) from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 23rd. Finally, Zacks Investment Research raised ZTO Express (Cayman) from a “sell” rating to a “hold” rating in a research note on Saturday, February 23rd. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. ZTO Express (Cayman) has an average rating of “Buy” and an average price target of $21.50.
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ZTO Express (Cayman) Company Profile
ZTO Express (Cayman) Inc provides express delivery and other value-added logistics services in the People's Republic of China. The company offers delivery services for e-commerce and traditional merchants, and other express service users. As of December 31, 2017, it operated a fleet of approximately 3,600 self-owned trucks.
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