Global Sources Ltd. (GSOL) Rating Lowered to Hold at BidaskClub

BidaskClub cut shares of Global Sources Ltd. (NASDAQ:GSOL) from a buy rating to a hold rating in a report published on Tuesday, August 1st.

Global Sources (GSOL) opened at 19.80 on Tuesday. The stock’s 50 day moving average is $19.68 and its 200 day moving average is $13.97. The company has a market cap of $479.60 million, a price-to-earnings ratio of 27.12 and a beta of 1.07. Global Sources has a 52-week low of $7.79 and a 52-week high of $21.80.

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A number of large investors have recently added to or reduced their stakes in GSOL. State Street Corp boosted its stake in Global Sources by 28.7% in the second quarter. State Street Corp now owns 148,014 shares of the business services provider’s stock valued at $2,962,000 after buying an additional 33,031 shares during the last quarter. Northern Trust Corp boosted its stake in Global Sources by 8.9% in the second quarter. Northern Trust Corp now owns 122,961 shares of the business services provider’s stock valued at $2,459,000 after buying an additional 10,083 shares during the last quarter. Quinn Opportunity Partners LLC purchased a new stake in Global Sources during the second quarter valued at approximately $770,000. GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in Global Sources by 48.3% in the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 36,835 shares of the business services provider’s stock valued at $737,000 after buying an additional 12,000 shares during the last quarter. Finally, Kassirer Asset Management Corp purchased a new stake in Global Sources during the second quarter valued at approximately $614,000. Hedge funds and other institutional investors own 12.15% of the company’s stock.

About Global Sources

Global Sources Ltd. is a business-to-business (B2B) media company that provides information and integrated marketing services, with a particular focus on the Greater China market. The Company, together with its subsidiaries, provides services that allow global buyers to identify suppliers and products, and enable suppliers to market their products to a number of buyers.

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