Pinpoint Asset Management Singapore Pte. Ltd. Buys New Shares in Vipshop Holdings Limited $VIPS

Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Vipshop Holdings Limited (NYSE:VIPS) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 253,118 shares of the technology company’s stock, valued at approximately $4,971,000. Vipshop accounts for approximately 0.9% of Pinpoint Asset Management Singapore Pte. Ltd.’s portfolio, making the stock its 18th biggest position.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Global Retirement Partners LLC raised its stake in shares of Vipshop by 575.5% in the third quarter. Global Retirement Partners LLC now owns 2,925 shares of the technology company’s stock valued at $57,000 after purchasing an additional 2,492 shares in the last quarter. Huntington National Bank boosted its stake in Vipshop by 53.8% during the second quarter. Huntington National Bank now owns 3,323 shares of the technology company’s stock worth $50,000 after buying an additional 1,163 shares in the last quarter. Tobam bought a new stake in Vipshop in the 2nd quarter valued at $91,000. PNC Financial Services Group Inc. increased its holdings in Vipshop by 65.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,091 shares of the technology company’s stock valued at $107,000 after buying an additional 2,809 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in shares of Vipshop by 148.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 8,163 shares of the technology company’s stock valued at $160,000 after buying an additional 4,881 shares in the last quarter. 48.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VIPS has been the topic of several recent research reports. Nomura upgraded shares of Vipshop from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Friday, February 27th. JPMorgan Chase & Co. increased their price target on shares of Vipshop from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. Citigroup restated a “neutral” rating on shares of Vipshop in a research note on Thursday, November 20th. Benchmark reiterated a “hold” rating on shares of Vipshop in a research note on Friday, November 21st. Finally, Zacks Research raised Vipshop from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.65.

Vipshop Stock Performance

NYSE VIPS opened at $15.97 on Monday. The firm has a market capitalization of $8.19 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 1.34 and a beta of 0.66. The business’s 50-day moving average price is $17.48 and its two-hundred day moving average price is $18.35. Vipshop Holdings Limited has a 12 month low of $12.14 and a 12 month high of $21.08.

Vipshop Increases Dividend

The company also recently announced an annual dividend, which will be paid on Friday, April 24th. Shareholders of record on Friday, April 10th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, April 10th. This represents a yield of 342.0%. This is a boost from Vipshop’s previous annual dividend of $0.43. Vipshop’s payout ratio is currently 24.12%.

Vipshop Profile

Vipshop Holdings Limited (NYSE:VIPS) is a leading online discount retailer in China, offering high-quality branded products at competitive prices through a time-limited, flash-sales model. The company provides consumers with access to a rotating selection of merchandise, combining the excitement of limited-time offers with curated brand partnerships to drive customer engagement and loyalty.

Vipshop’s platform features a diverse range of product categories, including apparel, footwear, cosmetics, home furnishings, digital electronics and other lifestyle goods.