O Shaughnessy Asset Management LLC acquired a new position in shares of Cango Inc. (NYSE:CANG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 105,192 shares of the company's stock, valued at approximately $463,000. O Shaughnessy Asset Management LLC owned approximately 0.10% of Cango as of its most recent SEC filing.
Separately, Virtu Financial LLC bought a new stake in Cango in the 4th quarter valued at $190,000. Institutional investors own 4.22% of the company's stock.
Cango Price Performance
CANG stock traded down $0.11 during midday trading on Wednesday, reaching $3.73. 8,775 shares of the company were exchanged, compared to its average volume of 285,226. Cango Inc. has a one year low of $1.32 and a one year high of $9.66. The firm has a market capitalization of $386.59 million, a price-to-earnings ratio of 21.91 and a beta of 0.53. The business has a 50-day moving average price of $3.89 and a two-hundred day moving average price of $3.84.
Cango (NYSE:CANG - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported $0.07 EPS for the quarter. The business had revenue of $91.52 million for the quarter. Cango had a net margin of 51.90% and a return on equity of 3.55%.
Cango declared that its Board of Directors has approved a share repurchase plan on Thursday, March 13th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.
About Cango
(
Free Report)
Cango Inc operates an automotive transaction service platform that connects dealers, original equipment manufacturers, financial institutions, car buyers, insurance brokers, and companies in the People's Republic of China. The company offers automobile trading solutions comprising car sourcing, transaction facilitation, logistics, and warehousing support for dealers through Cango Haoche app that offers new car transaction services, and Cango U-Car app that offers used-car transaction services.
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