O Shaughnessy Asset Management LLC Acquires Shares of 105,192 Cango Inc. (NYSE:CANG)

O Shaughnessy Asset Management LLC bought a new position in Cango Inc. (NYSE:CANG) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 105,192 shares of the company’s stock, valued at approximately $463,000. O Shaughnessy Asset Management LLC owned approximately 0.10% of Cango at the end of the most recent reporting period.

Separately, Virtu Financial LLC bought a new stake in Cango in the 4th quarter worth about $190,000. Institutional investors and hedge funds own 4.22% of the company’s stock.

Cango Stock Performance

NYSE:CANG opened at $3.41 on Friday. Cango Inc. has a 52 week low of $1.32 and a 52 week high of $9.66. The firm has a 50-day moving average price of $3.95 and a two-hundred day moving average price of $3.80. The firm has a market cap of $370.87 million, a price-to-earnings ratio of 20.03 and a beta of 0.53.

Cango (NYSE:CANG) last issued its quarterly earnings results on Thursday, March 6th. The company reported $0.07 EPS for the quarter. Cango had a return on equity of 3.55% and a net margin of 51.90%. The company had revenue of $91.52 million during the quarter.

Cango announced that its board has approved a share buyback program on Thursday, March 13th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.