3 hedge funds buy Gridsum Holding Inc. (GSUM) for the first time

Gridsum Holding Inc. (NASDAQ:GSUM) has made a 36.98% comeback from a 12-month low price of $6.76. It was seen 6.5% higher, changing the price to $9.26, when the closing bell rang on 11/16/2017. At recent session, the prices were hovering between $8.72 and $9.3. This company shares are 99.24% off its target price of $18.45 and the current market capitalization stands at $289.47M. The recent change has given its price a -0.77% deficit over SMA 50 and -42.09% deficit over its 52-week high. The stock witnessed 9.46% gains, 9.46% gains and -22.18% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found GSUM’s volatility during a week at 5.27% and during a month it has been found around 7.63%.

Gridsum Holding Inc. (GSUM) Top Holders

Institutional investors currently hold around $78 million or 32.5% in GSUM stock. Look at its top three institutional owners. Soros Fund Management Llc owns $16.01 million in Gridsum Holding Inc., which represents roughly 5.53% of the company’s market cap and approximately 20.53% of the institutional ownership. Similar statistics are true for the second largest owner, Wells Fargo & Company/Mn, which owns 1,266,200 shares of the stock are valued at $11.01 million. The third largest holder is Quentec Asset Management Llc, which currently holds $9.96 million worth of this stock and that ownership represents nearly 3.44% of its market capitalization.

Gridsum Holding Inc. 13F Filings

At the end of 09/30/2017 reporting period, 9 institutional holders increased their position in Gridsum Holding Inc. (NASDAQ:GSUM) by some 2,312,776 shares, 8 decreased positions by 2,672,251 and 9 held positions by 4,003,854. That puts total institutional holdings at 8,988,881 shares, according to SEC filings. The stock grabbed 3 new institutional investments totaling 2,066,067 shares while 3 institutional investors sold out their entire positions totaling 61,134 shares.

The stock made gains after GSUM announced that it has signed a strategic cooperation agreement with Tencent Cloud and Shandong Guohui Investment Co. Ltd., a company owned by the Shandong Province State-owned Assets Supervision and Administration Commission to jointly develop an industrial internet of things cloud platform in Shandong Province.

According to the strategic cooperation agreement, Gridsum, Tencent and Guohui will leverage each of their competitive strengths to jointly develop the IIoT Cloud Platform and support the emergence of a smart industrial manufacturing cluster in Shandong Province. It is anticipated that the IIoT Cloud Platform will revolutionize the manufacturing ecosystem in Shandong Province by leveraging “Industry 4.0” methodologies to greatly improve the efficiency and acquisition of vast quantities of information which will be analyzed and processed at very fast speeds. The IIoT Cloud Platform will greatly improve manufacturers’ ability to interconnect, increase efficiency, reduce production times and costs and build their businesses out to scale. The centerpiece of the IIoT Cloud Platform will be an industrial cloud and big data R&D center in Jinan, the capital of Shandong Province. Once completed, the industrial R&D center is expected to be amongst China’s largest.

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