Shell Asset Management Co. raised its position in shares of SouFun Holdings Ltd. (NYSE:SFUN) by 37.8% during the second quarter, Holdings Channel reports. The fund owned 74,644 shares of the company’s stock after buying an additional 20,456 shares during the period. Shell Asset Management Co.’s holdings in SouFun Holdings were worth $375,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Oasis Management Co Ltd. acquired a new stake in SouFun Holdings during the first quarter worth about $217,000. British Columbia Investment Management Corp raised its stake in SouFun Holdings by 150.6% in the second quarter. British Columbia Investment Management Corp now owns 64,400 shares of the company’s stock worth $324,000 after buying an additional 38,700 shares during the last quarter. Geode Capital Management LLC raised its stake in SouFun Holdings by 34.6% in the first quarter. Geode Capital Management LLC now owns 62,595 shares of the company’s stock worth $371,000 after buying an additional 16,085 shares during the last quarter. Gulf International Bank UK Ltd acquired a new stake in SouFun Holdings during the second quarter worth about $467,000. Finally, Altrinsic Global Advisors LLC raised its stake in SouFun Holdings by 45.2% in the first quarter. Altrinsic Global Advisors LLC now owns 104,532 shares of the company’s stock worth $626,000 after buying an additional 32,538 shares during the last quarter. Institutional investors own 51.69% of the company’s stock.
SouFun Holdings Ltd. (NYSE:SFUN) traded down 8.08% during trading on Tuesday, reaching $3.64. 4,524,518 shares of the company’s stock traded hands. The firm’s market cap is $1.73 billion. The firm has a 50 day moving average price of $4.47 and a 200-day moving average price of $5.13. SouFun Holdings Ltd. has a 12 month low of $3.60 and a 12 month high of $8.17.
SouFun Holdings (NYSE:SFUN) last announced its quarterly earnings results on Thursday, August 25th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. The company had revenue of $287 million for the quarter, compared to analysts’ expectations of $269.76 million. SouFun Holdings had a negative net margin of 18.43% and a negative return on equity of 36.04%. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period last year, the firm posted $0.04 earnings per share. On average, analysts forecast that SouFun Holdings Ltd. will post ($0.34) earnings per share for the current fiscal year.
A number of research firms have recently issued reports on SFUN. TheStreet lowered SouFun Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, September 13th. Zacks Investment Research raised shares of SouFun Holdings from a “strong sell” rating to a “hold” rating and set a $5.50 price target on the stock in a research note on Thursday, August 11th. Brean Capital reaffirmed a “hold” rating on shares of SouFun Holdings in a research note on Tuesday, August 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $4.50 price target on shares of SouFun Holdings in a research note on Wednesday, August 31st. Finally, Credit Agricole SA downgraded shares of SouFun Holdings from an “underperform” rating to a “sell” rating and dropped their price target for the stock from $6.00 to $4.50 in a research note on Friday, August 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $6.22.
SouFun Holdings Company Profile
SouFun Holdings Limited operates as a real estate Internet portal in China. The Company’s Websites and mobile applications support active online communities and networks of users seeking information on, and services for, the real estate and home-related sectors in China. The Company, through its Internet platform, is engaged in the development of transaction and financing platforms by offering direct sales services for new homes, online real estate brokerage services and financial services.
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