Kingswood Wealth Advisors LLC Buys Shares of 77,758 Xunlei Limited $XNET

Kingswood Wealth Advisors LLC purchased a new stake in shares of Xunlei Limited (NASDAQ:XNET) in the third quarter, according to its most recent filing with the SEC. The firm purchased 77,758 shares of the software maker’s stock, valued at approximately $744,000. Kingswood Wealth Advisors LLC owned 0.12% of Xunlei at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of XNET. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Xunlei by 314.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 196,328 shares of the software maker’s stock worth $795,000 after purchasing an additional 148,982 shares during the last quarter. Jane Street Group LLC increased its position in shares of Xunlei by 827.1% in the second quarter. Jane Street Group LLC now owns 88,917 shares of the software maker’s stock valued at $360,000 after buying an additional 101,146 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Xunlei during the 2nd quarter worth $306,000. XTX Topco Ltd boosted its position in shares of Xunlei by 244.1% in the 2nd quarter. XTX Topco Ltd now owns 75,032 shares of the software maker’s stock worth $304,000 after buying an additional 53,226 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Xunlei in the 2nd quarter valued at about $219,000. Institutional investors and hedge funds own 5.07% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Xunlei in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Xunlei Trading Down 0.9%

Shares of XNET stock opened at $7.60 on Friday. The company has a market capitalization of $477.20 million, a price-to-earnings ratio of 0.38 and a beta of 0.99. The company has a current ratio of 2.02, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $7.31 and a 200 day moving average price of $7.01. Xunlei Limited has a twelve month low of $1.90 and a twelve month high of $11.03.

Xunlei (NASDAQ:XNET) last issued its quarterly earnings results on Thursday, November 13th. The software maker reported $0.07 EPS for the quarter. The business had revenue of $125.93 million during the quarter. Xunlei had a net margin of 315.06% and a return on equity of 2.75%.

Xunlei Profile

Xunlei Limited (NASDAQ: XNET) is a China-based technology company specializing in content acceleration and cloud services. Its core offerings include the Xunlei download manager, which integrates peer-to-peer (P2P) and cloud-based acceleration technologies to enhance file delivery speeds for large downloads. The company has expanded its suite of products to encompass cloud storage solutions, media streaming applications and mobile browsing tools, all aimed at improving digital content distribution and user experience.

Founded in 2003 and headquartered in Shenzhen, Xunlei originally gained traction by addressing bandwidth constraints in China’s burgeoning internet market.