TB Alternative Assets Ltd. Sells 182,793 Shares of Bilibili Inc. (NASDAQ:BILI)

TB Alternative Assets Ltd. trimmed its stake in shares of Bilibili Inc. (NASDAQ:BILI - Free Report) by 60.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,107 shares of the company's stock after selling 182,793 shares during the quarter. Bilibili makes up 0.7% of TB Alternative Assets Ltd.'s holdings, making the stock its 26th biggest holding. TB Alternative Assets Ltd.'s holdings in Bilibili were worth $2,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Quarry LP acquired a new position in shares of Bilibili in the 2nd quarter worth approximately $29,336,000. OLD Mission Capital LLC acquired a new stake in Bilibili during the first quarter worth approximately $14,849,000. Cubist Systematic Strategies LLC increased its holdings in Bilibili by 385.3% in the second quarter. Cubist Systematic Strategies LLC now owns 981,969 shares of the company's stock worth $15,162,000 after purchasing an additional 779,614 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Bilibili in the second quarter valued at approximately $11,490,000. Finally, SIH Partners LLLP lifted its stake in Bilibili by 145.9% in the second quarter. SIH Partners LLLP now owns 1,195,420 shares of the company's stock valued at $18,457,000 after buying an additional 709,200 shares during the period. 16.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BILI. Daiwa America downgraded Bilibili from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 3rd. The Goldman Sachs Group raised shares of Bilibili from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $16.50 to $22.60 in a research report on Thursday, September 26th. Morgan Stanley initiated coverage on shares of Bilibili in a report on Wednesday, September 25th. They set an "equal weight" rating and a $20.00 price objective for the company. Sanford C. Bernstein upped their price target on Bilibili from $12.00 to $13.00 and gave the company a "market perform" rating in a research report on Friday, August 23rd. Finally, Barclays upgraded Bilibili from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $14.00 to $19.00 in a research report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bilibili has an average rating of "Moderate Buy" and an average price target of $17.83.

Bilibili Price Performance

Shares of NASDAQ BILI traded up $0.07 during midday trading on Monday, reaching $20.22. 3,925,335 shares of the stock traded hands, compared to its average volume of 7,347,972. The company's 50 day moving average is $17.87 and its 200 day moving average is $15.76. Bilibili Inc. has a one year low of $8.80 and a one year high of $31.77. The stock has a market capitalization of $8.35 billion, a PE ratio of -12.11 and a beta of 0.86.

Bilibili (NASDAQ:BILI - Get Free Report) last issued its quarterly earnings data on Thursday, August 22nd. The company reported ($0.65) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.55). The business had revenue of $6.13 billion during the quarter, compared to analysts' expectations of $6.10 billion. Bilibili had a negative return on equity of 22.44% and a negative net margin of 16.71%. The business's quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.43) earnings per share. As a group, equities analysts forecast that Bilibili Inc. will post -0.37 EPS for the current year.

About Bilibili

Bilibili Inc provides online entertainment services for the young generations in the People's Republic of China. It offers a range of digital content, including professional user generated videos, mobile games, and value-added services, such as live broadcasting, occupationally generated videos, audio drama on Maoer, and comics on Bilibili Comic.