Jupai (JP) Reaches New 52-Week Low at $8.61

Shares of Jupai Holdings Ltd (NYSE:JP) hit a new 52-week low during trading on Wednesday . The company traded as low as $8.61 and last traded at $10.31, with a volume of 12778 shares trading hands. The stock had previously closed at $10.01.

A number of analysts have commented on the stock. ValuEngine lowered shares of Jupai from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. TheStreet lowered shares of Jupai from a “b-” rating to a “c” rating in a research note on Thursday, June 21st.

The company has a market cap of $324.84 million, a P/E ratio of 5.16 and a beta of 0.85.

Hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. boosted its holdings in Jupai by 572.6% during the 1st quarter. Point72 Asset Management L.P. now owns 78,700 shares of the asset manager’s stock worth $1,603,000 after acquiring an additional 67,000 shares during the last quarter. Millennium Management LLC boosted its holdings in Jupai by 504.2% during the 2nd quarter. Millennium Management LLC now owns 78,289 shares of the asset manager’s stock worth $1,480,000 after acquiring an additional 65,331 shares during the last quarter. BlackRock Inc. purchased a new position in Jupai during the 2nd quarter worth $1,384,000. The Manufacturers Life Insurance Company boosted its holdings in Jupai by 179.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 20,110 shares of the asset manager’s stock worth $410,000 after acquiring an additional 12,910 shares during the last quarter. Finally, Mackay Shields LLC purchased a new position in Jupai during the 1st quarter worth $395,000. Institutional investors and hedge funds own 11.19% of the company’s stock.

About Jupai (NYSE:JP)

Jupai Holdings Limited, together with its subsidiaries, provides wealth management products and advisory services to high-net-worth individuals in China. It also provides asset management services, including management of real estate or related funds and other fund products. The company offers services for fixed income products, private equity and venture capital funds, and public market products, as well as other products, including overseas insurance products and foreign-currency denominated alternative investments.

Read More: Fundamental Analysis

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