Fang (SFUN) Shares Gap Up to $1.96

Fang Holdings Ltd (NYSE:SFUN) gapped up before the market opened on Friday . The stock had previously closed at $2.37, but opened at $1.96. Fang shares last traded at $1.90, with a volume of 57373 shares traded.

A number of research analysts recently issued reports on SFUN shares. Zacks Investment Research reiterated a “buy” rating and set a $2.25 target price on shares of Fang in a research report on Thursday, November 15th. ValuEngine downgraded shares of Fang from a “sell” rating to a “strong sell” rating in a research report on Monday, October 8th. Finally, Credit Suisse Group downgraded shares of Fang from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $3.20 to $1.60 in a research report on Monday, December 3rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $2.48.

The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $668.81 million, a price-to-earnings ratio of 94.25 and a beta of 1.09.

Fang (NYSE:SFUN) last released its quarterly earnings data on Friday, November 30th. The information services provider reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.04). Fang had a positive return on equity of 10.25% and a negative net margin of 16.21%. The business had revenue of $83.60 million for the quarter, compared to analyst estimates of $97.81 million. During the same quarter in the previous year, the company posted $0.03 EPS. The business’s quarterly revenue was down 25.5% on a year-over-year basis.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley raised its holdings in shares of Fang by 0.5% in the third quarter. Morgan Stanley now owns 13,106,479 shares of the information services provider’s stock valued at $33,946,000 after purchasing an additional 70,223 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Fang by 2.0% in the third quarter. BlackRock Inc. now owns 9,771,375 shares of the information services provider’s stock valued at $25,310,000 after purchasing an additional 192,122 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Fang by 1.1% in the second quarter. Bank of America Corp DE now owns 8,476,688 shares of the information services provider’s stock valued at $32,889,000 after purchasing an additional 92,798 shares during the last quarter. Krane Funds Advisors LLC raised its holdings in shares of Fang by 31.6% in the third quarter. Krane Funds Advisors LLC now owns 2,685,352 shares of the information services provider’s stock valued at $6,955,000 after purchasing an additional 644,057 shares during the last quarter. Finally, River & Mercantile Asset Management LLP raised its holdings in shares of Fang by 132.7% in the third quarter. River & Mercantile Asset Management LLP now owns 2,405,329 shares of the information services provider’s stock valued at $6,242,000 after purchasing an additional 1,371,572 shares during the last quarter. Hedge funds and other institutional investors own 43.29% of the company’s stock.

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About Fang (NYSE:SFUN)

Fang Holdings Limited operates a real estate Internet portal in the People's Republic of China. The company's portal offers listing, marketing, e-commerce, financial, and other value-added services. It supports active online communities and networks of users seeking information on, and services for, the real estate and home-related sectors.

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