Potomac Fund Management Inc. ADV Purchases New Position in NetEase, Inc. $NTES

Potomac Fund Management Inc. ADV bought a new position in NetEase, Inc. (NASDAQ:NTES) in the fourth quarter, HoldingsChannel.com reports. The fund bought 4,299 shares of the technology company’s stock, valued at approximately $592,000.

A number of other institutional investors also recently modified their holdings of NTES. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of NetEase by 68,860.6% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company’s stock worth $1,299,684,000 after acquiring an additional 8,538,717 shares during the last quarter. Bank of Montreal Can raised its stake in shares of NetEase by 1,636.4% in the third quarter. Bank of Montreal Can now owns 662,557 shares of the technology company’s stock worth $100,702,000 after acquiring an additional 624,399 shares during the last quarter. PBU The Pension Fund of Early Childhood & Youth Educators bought a new position in shares of NetEase in the fourth quarter worth about $44,214,000. Man Group plc raised its stake in shares of NetEase by 33.3% in the second quarter. Man Group plc now owns 983,156 shares of the technology company’s stock worth $132,313,000 after acquiring an additional 245,872 shares during the last quarter. Finally, Causeway Capital Management LLC raised its stake in shares of NetEase by 44.6% in the third quarter. Causeway Capital Management LLC now owns 638,315 shares of the technology company’s stock worth $97,017,000 after acquiring an additional 196,821 shares during the last quarter. 11.07% of the stock is owned by institutional investors.

NetEase Price Performance

Shares of NASDAQ:NTES opened at $125.82 on Monday. NetEase, Inc. has a one year low of $106.06 and a one year high of $159.55. The company has a 50 day moving average of $117.11 and a 200-day moving average of $124.40. The stock has a market cap of $80.33 billion, a price-to-earnings ratio of 16.71, a P/E/G ratio of 1.63 and a beta of 0.72.

NetEase Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be given a dividend of $0.72 per share. The ex-dividend date is Friday, June 5th. This represents a $2.88 annualized dividend and a dividend yield of 2.3%. NetEase’s payout ratio is currently 38.11%.

Analyst Ratings Changes

A number of equities analysts have weighed in on NTES shares. Zacks Research raised shares of NetEase from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $158.00 target price on shares of NetEase in a research note on Tuesday, May 26th. Wall Street Zen raised shares of NetEase from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Finally, Benchmark reaffirmed a “buy” rating on shares of NetEase in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $157.38.

About NetEase

NetEase, Inc (NASDAQ: NTES) is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company’s founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company’s primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.