a16z Perennial Management L.P. Buys New Shares in HSBC Holdings plc $HSBC

a16z Perennial Management L.P. purchased a new stake in HSBC Holdings plc (NYSE:HSBC) during the 3rd quarter, Holdings Channel reports. The firm purchased 6,052 shares of the financial services provider’s stock, valued at approximately $430,000.

Other large investors also recently modified their holdings of the company. Shilanski & Associates Inc. acquired a new stake in HSBC in the third quarter valued at $5,141,000. ABC Arbitrage SA raised its holdings in shares of HSBC by 237.0% in the 2nd quarter. ABC Arbitrage SA now owns 170,779 shares of the financial services provider’s stock valued at $10,382,000 after purchasing an additional 120,110 shares during the period. Atria Investments Inc lifted its stake in HSBC by 78.2% in the 2nd quarter. Atria Investments Inc now owns 9,119 shares of the financial services provider’s stock valued at $554,000 after purchasing an additional 4,002 shares during the last quarter. Dynasty Wealth Management LLC bought a new position in HSBC during the third quarter worth about $1,563,000. Finally, Y Intercept Hong Kong Ltd increased its position in HSBC by 63.4% during the third quarter. Y Intercept Hong Kong Ltd now owns 49,410 shares of the financial services provider’s stock worth $3,507,000 after buying an additional 19,176 shares during the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

HSBC Trading Up 2.9%

Shares of HSBC stock opened at $89.39 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a 50-day moving average of $80.19 and a 200-day moving average of $71.92. HSBC Holdings plc has a 52-week low of $45.66 and a 52-week high of $90.49. The stock has a market cap of $307.06 billion, a PE ratio of 18.82, a PEG ratio of 0.94 and a beta of 0.52.

Analyst Ratings Changes

HSBC has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of HSBC in a research report on Monday, December 29th. Morgan Stanley started coverage on shares of HSBC in a research report on Wednesday, January 14th. They set an “equal weight” rating for the company. Erste Group Bank upgraded shares of HSBC from a “hold” rating to a “buy” rating in a report on Thursday, November 20th. Citigroup restated a “buy” rating on shares of HSBC in a research note on Friday, January 9th. Finally, Zacks Research upgraded shares of HSBC from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

HSBC Profile

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.