Xunlei (XNET) Downgraded to Sell at ValuEngine

Xunlei (NASDAQ:XNET) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Friday.

XNET has been the subject of a number of other reports. TheStreet raised shares of Xunlei from a “d+” rating to a “c-” rating in a research report on Monday, November 13th. BidaskClub raised shares of Xunlei from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th.

Shares of Xunlei (NASDAQ:XNET) traded up $1.78 on Friday, reaching $15.43. 20,676,942 shares of the company were exchanged, compared to its average volume of 1,674,595. Xunlei has a 52-week low of $3.11 and a 52-week high of $27.00.

A number of institutional investors and hedge funds have recently made changes to their positions in XNET. Top Ace Asset Management purchased a new stake in Xunlei in the fourth quarter valued at $3,100,000. Acadian Asset Management lifted its position in Xunlei by 18.5% in the fourth quarter. Acadian Asset Management now owns 181,365 shares of the software maker’s stock valued at $1,371,000 after acquiring an additional 28,270 shares during the last quarter. State Street Corp lifted its position in Xunlei by 8.6% in the second quarter. State Street Corp now owns 99,693 shares of the software maker’s stock valued at $323,000 after acquiring an additional 7,880 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in Xunlei in the third quarter valued at $300,000. Finally, Dimensional Fund Advisors LP lifted its position in Xunlei by 92.2% in the third quarter. Dimensional Fund Advisors LP now owns 52,378 shares of the software maker’s stock valued at $223,000 after acquiring an additional 25,130 shares during the last quarter. 11.38% of the stock is owned by hedge funds and other institutional investors.

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About Xunlei

Xunlei Limited (Xunlei) is a cloud-based acceleration technology company. The Company operates an Internet platform in China based on cloud computing to enable users to access, manage and consume digital media content. The Company’s segment is the operation of its online media platform. The Company’s products and services include Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet, and cloud acceleration subscription services, which offer user services for speed and reliability.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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