Acadian Asset Management LLC Grows Stake in Cango Inc. (NYSE:CANG)

Acadian Asset Management LLC boosted its position in shares of Cango Inc. (NYSE:CANG) by 48.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,922 shares of the company’s stock after acquiring an additional 6,467 shares during the quarter. Acadian Asset Management LLC’s holdings in Cango were worth $32,000 at the end of the most recent reporting period.

Separately, Cetera Advisors LLC purchased a new position in shares of Cango during the 1st quarter worth $150,000. 4.22% of the stock is owned by institutional investors and hedge funds.

Cango Price Performance

Shares of CANG stock opened at $1.61 on Friday. The company has a market cap of $175.36 million, a price-to-earnings ratio of -40.25 and a beta of 0.68. Cango Inc. has a 1 year low of $0.92 and a 1 year high of $2.08. The firm has a fifty day moving average price of $1.77 and a 200-day moving average price of $1.64.

About Cango

Cango Inc operates an automotive transaction service platform that connects dealers, original equipment manufacturers, financial institutions, car buyers, insurance brokers, and companies in the People's Republic of China. The company offers automobile trading solutions comprising car sourcing, transaction facilitation, logistics, and warehousing support for dealers through Cango Haoche app that offers new car transaction services, and Cango U-Car app that offers used-car transaction services.