China Distance Education Holdings Ltd (NYSE:DL) shares rose 13% on Wednesday . The stock traded as high as $5.40 and last traded at $5.30, approximately 202,907 shares changed hands during mid-day trading. An increase of 892% from the average daily volume of 20,458 shares. The stock had previously closed at $4.69.
DL has been the subject of several research analyst reports. TheStreet downgraded shares of China Distance Education from a “c” rating to a “d+” rating in a research note on Wednesday, June 26th. Zacks Investment Research downgraded shares of China Distance Education from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd.
The stock has a market capitalization of $156.27 million, a P/E ratio of 12.62, a P/E/G ratio of 0.57 and a beta of 1.11. The firm’s 50 day simple moving average is $4.57 and its two-hundred day simple moving average is $5.73.
China Distance Education (NYSE:DL) last posted its quarterly earnings results on Tuesday, August 13th. The technology company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.05). China Distance Education had a net margin of 8.72% and a return on equity of 15.80%. The company had revenue of $61.75 million during the quarter, compared to the consensus estimate of $63.74 million. Analysts expect that China Distance Education Holdings Ltd will post 0.55 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC increased its stake in China Distance Education by 1.1% in the second quarter. Renaissance Technologies LLC now owns 319,500 shares of the technology company’s stock valued at $1,661,000 after purchasing an additional 3,600 shares in the last quarter. Van Berkom & Associates Inc. increased its stake in China Distance Education by 3.5% in the second quarter. Van Berkom & Associates Inc. now owns 344,670 shares of the technology company’s stock valued at $1,792,000 after purchasing an additional 11,505 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in China Distance Education by 12.4% in the second quarter. Wells Fargo & Company MN now owns 1,879,104 shares of the technology company’s stock valued at $9,771,000 after purchasing an additional 207,180 shares in the last quarter. 20.25% of the stock is owned by hedge funds and other institutional investors.
About China Distance Education (NYSE:DL)
China Distance Education Holdings Ltd. engages in the provision of online education in China, which focuses on professional education. The company offers online courses through its websites, which are designed to help course participants obtain and maintain the skills, licenses and certifications necessary to pursue careers and professions in China.
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