HCEP Management Ltd Purchases New Shares in Cango Inc. (NYSE:CANG)

HCEP Management Ltd acquired a new position in shares of Cango Inc. (NYSE:CANG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 394,900 shares of the company’s stock, valued at approximately $1,738,000. Cango accounts for 1.4% of HCEP Management Ltd’s portfolio, making the stock its 7th largest position. HCEP Management Ltd owned about 0.36% of Cango at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CANG. Virtu Financial LLC acquired a new position in Cango in the 4th quarter valued at $190,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Cango in the fourth quarter valued at about $463,000. Finally, BIT Capital GmbH purchased a new position in shares of Cango in the fourth quarter worth about $3,670,000. Institutional investors and hedge funds own 4.22% of the company’s stock.

Cango Trading Down 8.5 %

CANG opened at $3.73 on Friday. Cango Inc. has a twelve month low of $1.32 and a twelve month high of $9.66. The firm has a market capitalization of $406.70 million, a PE ratio of 21.96 and a beta of 0.53. The firm’s 50-day moving average price is $4.10 and its 200 day moving average price is $3.72.

Cango (NYSE:CANG) last posted its quarterly earnings results on Thursday, March 6th. The company reported $0.07 earnings per share (EPS) for the quarter. Cango had a return on equity of 3.55% and a net margin of 51.90%. The business had revenue of $91.52 million during the quarter.

Cango declared that its board has approved a share repurchase plan on Thursday, March 13th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Cango Company Profile

Cango Inc operates an automotive transaction service platform that connects dealers, original equipment manufacturers, financial institutions, car buyers, insurance brokers, and companies in the People's Republic of China. The company offers automobile trading solutions comprising car sourcing, transaction facilitation, logistics, and warehousing support for dealers through Cango Haoche app that offers new car transaction services, and Cango U-Car app that offers used-car transaction services.