Cheetah Mobile (CMCM) Shares Gap Down to $6.37

Cheetah Mobile Inc (NYSE:CMCM) shares gapped down before the market opened on Tuesday . The stock had previously closed at $6.62, but opened at $6.37. Cheetah Mobile shares last traded at $6.20, with a volume of 3712840 shares trading hands.

CMCM has been the subject of a number of research reports. ValuEngine raised shares of Cheetah Mobile from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. Nomura raised shares of Cheetah Mobile from a “neutral” rating to a “buy” rating in a research report on Monday, August 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Cheetah Mobile currently has a consensus rating of “Hold” and a consensus price target of $13.00.

The stock has a market cap of $912.07 million, a price-to-earnings ratio of 4.14 and a beta of 2.88.

Cheetah Mobile (NYSE:CMCM) last released its earnings results on Wednesday, November 21st. The software maker reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.02). Cheetah Mobile had a net margin of 29.78% and a return on equity of 31.36%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the company earned $1.10 earnings per share. The firm’s revenue was up 13.2% on a year-over-year basis.

Several hedge funds have recently made changes to their positions in the stock. Morgan Stanley grew its stake in shares of Cheetah Mobile by 131.8% in the third quarter. Morgan Stanley now owns 573,398 shares of the software maker’s stock worth $5,637,000 after acquiring an additional 326,033 shares during the period. Krane Funds Advisors LLC grew its stake in shares of Cheetah Mobile by 22.7% in the third quarter. Krane Funds Advisors LLC now owns 172,945 shares of the software maker’s stock worth $1,700,000 after acquiring an additional 32,031 shares during the period. Man Group plc bought a new stake in shares of Cheetah Mobile in the third quarter worth approximately $672,000. Sensato Investors LLC bought a new stake in shares of Cheetah Mobile in the third quarter worth approximately $152,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Cheetah Mobile in the third quarter worth approximately $148,000. Institutional investors own 5.36% of the company’s stock.

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About Cheetah Mobile (NYSE:CMCM)

Cheetah Mobile Inc operates as a mobile Internet company worldwide. The company's utility products include Clean Master, a junk file cleaning, memory boosting, and privacy protection tool for mobile devices; Security Master, an anti-virus and security application for mobile devices; Battery Doctor, a power optimization tool for mobile devices; Cheetah Browser, a Web browser for PCs and mobile devices; CM Browser, a mobile browser to protect users from malicious threats; and CM Launcher, which provides personalized experience in using smart phones.

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