Fanhua (FANH) Shares Gap Down to $27.21
Fanhua Inc (NASDAQ:FANH) gapped down before the market opened on Wednesday . The stock had previously closed at $24.42, but opened at $27.21. Fanhua shares last traded at $28.28, with a volume of 647746 shares.
Separately, BidaskClub lowered Fanhua from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 6th.
The firm has a market cap of $1,888.01, a P/E ratio of 25.67 and a beta of 1.49.
Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. purchased a new stake in shares of Fanhua in the second quarter valued at approximately $107,000. Group One Trading L.P. purchased a new stake in shares of Fanhua in the third quarter valued at approximately $108,000. JPMorgan Chase & Co. grew its position in shares of Fanhua by 1,477.0% in the third quarter. JPMorgan Chase & Co. now owns 14,193 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 13,293 shares in the last quarter. Northern Trust Corp grew its position in shares of Fanhua by 2.8% in the second quarter. Northern Trust Corp now owns 26,235 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 725 shares in the last quarter. Finally, First Trust Advisors LP purchased a new stake in shares of Fanhua in the fourth quarter valued at approximately $276,000. Institutional investors and hedge funds own 16.14% of the company’s stock.
Fanhua Inc, formerly CNinsure Inc, is an independent online-to-offline financial services provider in China. The Company distributes a range of property, casualty and life insurance products underwritten by domestic and foreign insurance companies operating in China to individual and institutional customers, and provides insurance claims adjusting services.
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