Nine Masts Capital LTD Has Cut Its Stake in Ikang Healthcare Group INC (KANG) by $8.10 Million as Share Price Declined

October 13, 2018 - By Darrin Black

Nine Masts Capital Ltd decreased its stake in Ikang Healthcare Group Inc (KANG) by 91.5% based on its latest 2018Q2 regulatory filing with the SEC. Nine Masts Capital Ltd sold 404,923 shares as the company’s stock declined 17.72% while stock markets rallied. The hedge fund held 37,629 shares of the health care company at the end of 2018Q2, valued at $770,000, down from 442,552 at the end of the previous reported quarter. Nine Masts Capital Ltd who had been investing in Ikang Healthcare Group Inc for a number of months, seems to be less bullish one the $1.21B market cap company. The stock decreased 1.54% or $0.27 during the last trading session, reaching $17.25. About 69,175 shares traded. iKang Healthcare Group, Inc. (NASDAQ:KANG) has risen 16.53% since October 13, 2017 and is uptrending. It has outperformed by 0.91% the S&P500.

Nine Masts Capital Ltd, which manages about $515.60M US Long portfolio, upped its stake in Spdr S&P 500 Etf Tr (SPY) by 82,452 shares to 84,952 shares, valued at $23.05 million in 2018Q2, according to the filing.

More recent iKang Healthcare Group, Inc. (NASDAQ:KANG) news were published by: Benzinga.com which released: “Earnings Scheduled For September 27, 2018” on September 27, 2018. Also Nasdaq.com published the news titled: “iKang Announces Unaudited Financial Results for the Fiscal First Quarter Ended June 30, 2018” on September 27, 2018. Streetinsider.com‘s news article titled: “iKang Healthcare (KANG) Enters 2nd Amendment to Merger Agreement” with publication date: September 25, 2018 was also an interesting one.

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