Anthracite Investment Company Inc. Makes New Investment in PDD Holdings Inc. (NASDAQ:PDD)

Anthracite Investment Company Inc. bought a new position in PDD Holdings Inc. (NASDAQ:PDD) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 30,000 shares of the company’s stock, valued at approximately $4,044,000. PDD comprises 1.8% of Anthracite Investment Company Inc.’s portfolio, making the stock its 13th largest holding.

Several other large investors have also added to or reduced their stakes in the business. TB Alternative Assets Ltd. grew its position in PDD by 33.7% in the 3rd quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock worth $23,342,000 after purchasing an additional 43,648 shares in the last quarter. Vontobel Holding Ltd. grew its position in PDD by 13.3% during the third quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company’s stock valued at $31,589,000 after buying an additional 27,567 shares during the period. Jupiter Asset Management Ltd. increased its holdings in PDD by 63.7% during the second quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock worth $30,700,000 after buying an additional 89,853 shares during the last quarter. BOCHK Asset Management Ltd raised its position in PDD by 3,391.7% in the third quarter. BOCHK Asset Management Ltd now owns 41,900 shares of the company’s stock worth $5,649,000 after acquiring an additional 40,700 shares during the period. Finally, M&G PLC grew its position in shares of PDD by 14.2% during the 3rd quarter. M&G PLC now owns 247,417 shares of the company’s stock valued at $33,401,000 after acquiring an additional 30,817 shares during the period. Institutional investors own 29.07% of the company’s stock.

PDD Trading Up 0.3 %

Shares of PDD stock opened at $117.68 on Wednesday. The company has a market capitalization of $161.91 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 0.27 and a beta of 0.71. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The business’s fifty day moving average is $122.58 and its 200 day moving average is $130.31. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. PDD had a return on equity of 48.14% and a net margin of 28.92%. The firm had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. During the same quarter last year, the company posted $1.27 EPS. The company’s revenue for the quarter was up 85.7% on a year-over-year basis. On average, equities research analysts anticipate that PDD Holdings Inc. will post 11.19 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on PDD shares. Sanford C. Bernstein reduced their price objective on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, August 27th. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and upped their price target for the company from $126.00 to $224.00 in a research note on Monday, October 7th. Citigroup lowered shares of PDD from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $194.00 to $120.00 in a research note on Tuesday, August 27th. Nomura Securities upgraded PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Daiwa America raised PDD to a “strong-buy” rating in a report on Tuesday, August 27th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $182.40.

About PDD

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.