Fintel reports that AI Global Investment SPC has filed a 13G/A form with the SEC disclosing ownership of 30.82MM shares of Ucloudlink Group Inc (UCL). This represents 12.6% of the company.
In their previous filing dated January 19, 2022 they reported 34.27MM shares and 21.20% of the company, a decrease in shares of 10.06% and a decrease in total ownership of 8.60% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 15.70% Downside
As of February 10, 2023, the average one-year price target for Ucloudlink Group is $4.08. The forecasts range from a low of $4.04 to a high of $4.20. The average price target represents a decrease of 15.70% from its latest reported closing price of $4.84.
The projected annual revenue for Ucloudlink Group is $99MM, an increase of 42.75%. The projected annual EPS is $0.15.
What is the Fund Sentiment?
There are 14 funds or institutions reporting positions in Ucloudlink Group. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to UCL is 0.00%, an increase of 252.66%. Total shares owned by institutions increased in the last three months by 1,051.54% to 1,109K shares.
What are large shareholders doing?
Nomura Holdings holds 971K shares representing 2.65% ownership of the company.
Renaissance Technologies holds 88K shares representing 0.24% ownership of the company. In it's prior filing, the firm reported owning 40K shares, representing an increase of 54.71%. The firm increased its portfolio allocation in UCL by 32.78% over the last quarter.
FNCMX - Fidelity Nasdaq Composite Index Fund holds 12K shares representing 0.03% ownership of the company. No change in the last quarter.
Geode Capital Management holds 12K shares representing 0.03% ownership of the company. No change in the last quarter.
Virtu Financial holds 12K shares representing 0.03% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Ucloudlink Group Background Information
(This description is provided by the company.)
uCloudlink is the world's first and leading mobile data traffic sharing marketplace, pioneering the sharing economy business model for the telecommunications industry. The Company's products and services deliver unique value propositions to mobile data users, handset and smart-hardware companies, mobile virtual network operators (MVNOs) and mobile network operators (MNOs). Leveraging its innovative cloud SIM technology and architecture, the Company has redefined the mobile data connectivity experience by allowing users to gain access to mobile data traffic allowance shared by network operators on its marketplace, while providing reliable connectivity, high speeds and competitive pricing.
This story originally appeared on Fintel.
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