Cango (NYSE:CANG) announced its earnings results on Tuesday. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.08), Morningstar.com reports. The business had revenue of $52.40 million for the quarter. Cango had a net margin of 25.02% and a return on equity of 9.27%. Cango updated its Q2 2019 guidance to EPS.
CANG opened at $4.70 on Thursday. The company has a market capitalization of $755.53 million and a price-to-earnings ratio of 15.16. Cango has a 1-year low of $4.87 and a 1-year high of $13.90. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.04 and a quick ratio of 3.04.
The company also recently declared a special dividend, which was paid on Tuesday, May 28th. Shareholders of record on Friday, May 10th were given a $0.125 dividend. The ex-dividend date of this dividend was Thursday, May 9th.
An institutional investor recently raised its position in Cango stock. Primavera Capital Management Ltd grew its position in Cango Inc – (NYSE:CANG) by 21.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,243,939 shares of the company’s stock after purchasing an additional 1,089,607 shares during the quarter. Cango makes up about 3.0% of Primavera Capital Management Ltd’s investment portfolio, making the stock its 4th largest holding. Primavera Capital Management Ltd owned approximately 4.13% of Cango worth $49,577,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 21.88% of the company’s stock.
Cango Company Profile
Cango Inc operates an automotive transaction service platform that connects dealers, financial institutions, car buyers, and other industry participants in the People's Republic of China. It facilitates automotive financing services that include facilitating financing transactions from financial institutions to car buyers; automotive transactions between automotive wholesalers, dealers, and car buyers; and after-market services to car buyers.
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