Parametric Portfolio Associates LLC lifted its position in shares of BEST Inc. (NYSE:BEST) by 280.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 284,321 shares of the company’s stock after buying an additional 209,668 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.07% of BEST worth $1,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NumerixS Investment Technologies Inc acquired a new stake in shares of BEST during the 4th quarter worth approximately $29,000. US Bancorp DE boosted its position in shares of BEST by 991.7% during the 1st quarter. US Bancorp DE now owns 6,583 shares of the company’s stock worth $35,000 after purchasing an additional 5,980 shares during the period. Panagora Asset Management Inc. purchased a new position in shares of BEST during the 4th quarter worth approximately $39,000. Wealthspire Advisors L.P. purchased a new position in shares of BEST during the 4th quarter worth approximately $56,000. Finally, Profund Advisors LLC purchased a new position in shares of BEST during the 4th quarter worth approximately $58,000. Institutional investors and hedge funds own 23.77% of the company’s stock.
A number of research firms recently weighed in on BEST. Zacks Investment Research cut shares of BEST from a “hold” rating to a “sell” rating in a research report on Thursday, May 28th. ValuEngine raised shares of BEST from a “hold” rating to a “buy” rating in a research report on Monday, May 4th. Finally, Macquarie cut shares of BEST from an “outperform” rating to a “neutral” rating in a research report on Friday, May 15th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. BEST presently has a consensus rating of “Hold” and a consensus target price of $6.70.
Shares of BEST stock opened at $4.28 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.47. BEST Inc. has a 52 week low of $4.10 and a 52 week high of $6.54. The stock has a market capitalization of $1.68 billion, a PE ratio of -16.46 and a beta of 0.63. The firm has a 50 day moving average of $5.04 and a two-hundred day moving average of $5.39.
BEST (NYSE:BEST) last issued its quarterly earnings results on Wednesday, May 27th. The company reported ($1.81) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($1.59). BEST had a negative net margin of 2.10% and a negative return on equity of 17.93%. The business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $6.05 billion. During the same period in the prior year, the business earned ($0.53) EPS. The business’s quarterly revenue was down 20.5% on a year-over-year basis. Analysts expect that BEST Inc. will post -0.16 EPS for the current fiscal year.
BEST Company Profile
BEST Inc operates as a smart supply chain service provider in the People's Republic of China. Its proprietary technology platform enables its ecosystem participants to operate their businesses through various SaaS-based applications. The company applies its technologies to a range of applications, such as network and route optimization, swap bodies, sorting line automation, smart warehouses, and store management.
Further Reading: Recession
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