Vipshop (VIPS) Stock Higher, Tiger Global Discloses 9.96% Stake
NEW YORK (TheStreet) -- Vipshop (VIPS) - Get Report stock is up 11.88% to $16.01 in afternoon trading on Friday, as Chase Coleman's Tiger Global disclosed in an SEC filing that it now has a 9.96% stake in the company.
The hedge fund now owns 9.9 million shares, or 49.5 million ADS, of the Guangzhou, China-based online discount retailer, according to an SEC filing.
Additionally, after Tuesday's market close Vipshop reported 2015 third quarter earnings of 12 cents per ADS on revenue of $1.36 billion, or RMB 8.67 billion.
Last Friday, Vipshop stock plummeted after announcing it expected its third quarter revenue to a range between RMB 8.6 billion and RMB 8.7 billion, short of its prior forecast for between RMB 9.1 billion and RMB 9.3 billion.
Separately, TheStreet Ratings team rates VIPSHOP HOLDINGS LTD -ADR as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
We rate VIPSHOP HOLDINGS LTD -ADR (VIPS) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, impressive record of earnings per share growth and compelling growth in net income. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
You can view the full analysis from the report here: VIPS
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