ValuEngine upgraded shares of Jupai Holdings Limited (NYSE:JP) from a hold rating to a buy rating in a report published on Monday morning.

Shares of Jupai Holdings Limited (JP) traded up 0.54% during trading on Monday, hitting $9.35. The stock had a trading volume of 140,066 shares. The company’s 50 day moving average price is $7.79 and its 200 day moving average price is $8.52. Jupai Holdings Limited has a 12 month low of $7.36 and a 12 month high of $9.75. The stock has a market cap of $279.57 million, a price-to-earnings ratio of 7.80 and a beta of 0.73.

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A hedge fund recently raised its stake in Jupai Holdings Limited stock. Acadian Asset Management LLC increased its position in Jupai Holdings Limited (NYSE:JP) by 367.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 37,496 shares of the asset manager’s stock after buying an additional 29,480 shares during the period. Acadian Asset Management LLC owned 0.12% of Jupai Holdings Limited worth $292,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 0.21% of the company’s stock.

About Jupai Holdings Limited

Jupai Holdings Limited (Jupai), formerly Jupai Investment Group, is a Cayman Islands-based third-party wealth management service provider. The Company focuses on distributing wealth management products and providing advisory services to individuals in People’s Republic of China (PRC) who have investable assets in excess of three million Renminbi (RMB).

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