Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in BEST (NYSE:BSTI) by 13.7% in the first quarter, Holdings Channel reports. The institutional investor owned 540,268 shares of the company’s stock after acquiring an additional 65,241 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in BEST were worth $5,565,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Huntington National Bank purchased a new position in BEST in the 4th quarter worth about $135,000. Two Sigma Investments LP purchased a new position in BEST in the 4th quarter worth about $166,000. Nwam LLC purchased a new position in BEST in the 4th quarter worth about $226,000. Ellington Management Group LLC purchased a new position in BEST in the 4th quarter worth about $280,000. Finally, Deutsche Bank AG purchased a new position in BEST in the 4th quarter worth about $651,000. 12.07% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on BSTI shares. Citigroup lowered BEST from a “buy” rating to a “neutral” rating in a research report on Thursday, May 10th. Zacks Investment Research lowered shares of BEST from a “hold” rating to a “sell” rating in a research report on Thursday, February 22nd. KeyCorp set a $14.00 price target on shares of BEST and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, ValuEngine raised shares of BEST from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $14.52.
BEST Company Profile
BEST Inc operates as a smart supply chain service provider in the People's Republic of China. Its proprietary technology platform enables its ecosystem participants to operate their businesses through various SaaS-based applications. The company applies its technologies to a range of applications, such as network and route optimization, swap bodies, sorting line automation, smart warehouses, and store management.
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