Contrarius Investment Management Ltd Sells 893,355 Shares of SouFun Holdings Limited (SFUN)
Contrarius Investment Management Ltd lowered its stake in shares of SouFun Holdings Limited (NYSE:SFUN) by 70.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 382,534 shares of the information services provider’s stock after selling 893,355 shares during the period. Contrarius Investment Management Ltd owned about 0.09% of SouFun Holdings Limited worth $1,549,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Davis Selected Advisers raised its stake in shares of SouFun Holdings Limited by 33.3% during the 2nd quarter. Davis Selected Advisers now owns 27,239,493 shares of the information services provider’s stock valued at $101,059,000 after buying an additional 6,803,651 shares during the last quarter. River & Mercantile Asset Management LLP acquired a new stake in shares of SouFun Holdings Limited during the 3rd quarter valued at about $12,075,000. SG Americas Securities LLC grew its position in shares of SouFun Holdings Limited by 2,940.0% during the 3rd quarter. SG Americas Securities LLC now owns 2,518,698 shares of the information services provider’s stock valued at $10,201,000 after acquiring an additional 2,435,845 shares during the period. State Street Corp grew its position in shares of SouFun Holdings Limited by 0.8% during the 2nd quarter. State Street Corp now owns 1,263,103 shares of the information services provider’s stock valued at $4,685,000 after acquiring an additional 9,560 shares during the period. Finally, First Trust Advisors LP grew its position in shares of SouFun Holdings Limited by 16.9% during the 3rd quarter. First Trust Advisors LP now owns 617,629 shares of the information services provider’s stock valued at $2,501,000 after acquiring an additional 89,513 shares during the period. Institutional investors and hedge funds own 48.36% of the company’s stock.
A number of equities research analysts have recently commented on the company. BidaskClub upgraded SouFun Holdings Limited from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 7th. Zacks Investment Research upgraded SouFun Holdings Limited from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $3.73.
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SouFun Holdings Limited (NYSE SFUN) traded down $0.28 during mid-day trading on Friday, reaching $4.70. The company had a trading volume of 7,200,000 shares, compared to its average volume of 2,413,295. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.01 and a current ratio of 1.01. SouFun Holdings Limited has a 12 month low of $2.46 and a 12 month high of $5.27.
SouFun Holdings Limited (NYSE:SFUN) last posted its quarterly earnings data on Friday, November 17th. The information services provider reported $0.03 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. SouFun Holdings Limited had a negative return on equity of 8.80% and a negative net margin of 4.57%. The company had revenue of $112.20 million for the quarter, compared to analysts’ expectations of $106.39 million. During the same period in the previous year, the firm posted ($0.03) EPS. SouFun Holdings Limited’s revenue was down 55.1% compared to the same quarter last year. analysts expect that SouFun Holdings Limited will post 0.06 earnings per share for the current year.
SouFun Holdings Limited Company Profile
Fang Holdings Limited, formerly 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.
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