Cheetah Mobile Inc (NYSE:CMCM) saw a large drop in short interest during the month of November. As of November 29th, there was short interest totalling 1,020,000 shares, a drop of 7.3% from the November 14th total of 1,100,000 shares. Based on an average daily trading volume, of 345,300 shares, the days-to-cover ratio is presently 3.0 days. Approximately 2.4% of the shares of the company are sold short.
Separately, ValuEngine downgraded shares of Cheetah Mobile from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd.
Institutional investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in shares of Cheetah Mobile in the second quarter valued at about $78,000. Morgan Stanley grew its position in shares of Cheetah Mobile by 130.4% during the 2nd quarter. Morgan Stanley now owns 49,993 shares of the software maker’s stock worth $177,000 after purchasing an additional 28,290 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Cheetah Mobile by 5.8% during the 3rd quarter. California Public Employees Retirement System now owns 129,400 shares of the software maker’s stock worth $463,000 after purchasing an additional 7,100 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Cheetah Mobile by 92.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 681,917 shares of the software maker’s stock worth $2,407,000 after purchasing an additional 327,375 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of Cheetah Mobile by 4,991.9% during the 2nd quarter. BlackRock Inc. now owns 252,200 shares of the software maker’s stock worth $896,000 after purchasing an additional 247,247 shares in the last quarter. 4.44% of the stock is owned by institutional investors.
About Cheetah Mobile
Cheetah Mobile Inc operates as a mobile Internet company worldwide. The company's utility products include Clean Master, a junk file cleaning, memory boosting, and privacy protection tool for mobile devices; Security Master, an anti-virus and security application for mobile devices; Battery Doctor, a power optimization tool for mobile devices; Cheetah Browser, a Web browser for PCs and mobile devices; CM Browser, a mobile browser to protect users from malicious threats; and CM Launcher, which provides personalized experience in using smart phones.
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