Greenwoods Asset Management Ltd lessened its position in Sina Corporation (NASDAQ:SINA) by 58.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,375,158 shares of the technology company’s stock after selling 1,907,085 shares during the quarter. Sina Corporation accounts for 13.6% of Greenwoods Asset Management Ltd’s portfolio, making the stock its 3rd largest position. Greenwoods Asset Management Ltd owned about 1.94% of Sina Corporation worth $116,847,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new stake in shares of Sina Corporation in the 1st quarter worth about $795,000. Bank of Montreal Can lifted its holdings in Sina Corporation by 11.7% during the 2nd quarter. Bank of Montreal Can now owns 1,452 shares of the technology company’s stock valued at $123,000 after buying an additional 152 shares in the last quarter. US Bancorp DE lifted its holdings in Sina Corporation by 55.1% during the 2nd quarter. US Bancorp DE now owns 1,501 shares of the technology company’s stock valued at $127,000 after buying an additional 533 shares in the last quarter. Bronfman E.L. Rothschild L.P. bought a new stake in Sina Corporation during the 2nd quarter valued at about $136,000. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Sina Corporation by 11.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,330 shares of the technology company’s stock valued at $168,000 after buying an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 67.01% of the company’s stock.
Sina Corporation (SINA) traded down 0.93% on Friday, reaching $116.33. 2,928,781 shares of the company’s stock were exchanged. The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 38.09 and a beta of 1.18. Sina Corporation has a one year low of $60.46 and a one year high of $118.85. The firm has a 50 day moving average of $102.40 and a 200-day moving average of $87.36.
Sina Corporation (NASDAQ:SINA) last posted its earnings results on Wednesday, August 9th. The technology company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.27. Sina Corporation had a net margin of 18.64% and a return on equity of 6.58%. The company had revenue of $358.93 million for the quarter, compared to analysts’ expectations of $344.23 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. Sina Corporation’s revenue for the quarter was up 47.1% compared to the same quarter last year. Equities research analysts forecast that Sina Corporation will post $2.92 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on SINA shares. Jefferies Group LLC reiterated a “buy” rating and set a $122.00 price objective on shares of Sina Corporation in a report on Tuesday, May 30th. Stifel Nicolaus reiterated a “hold” rating on shares of Sina Corporation in a report on Friday, June 23rd. BidaskClub lowered shares of Sina Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Citigroup Inc. lifted their price objective on shares of Sina Corporation to $140.00 and gave the company a “buy” rating in a report on Thursday, August 10th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $119.00 price objective (up previously from $112.00) on shares of Sina Corporation in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Sina Corporation has a consensus rating of “Buy” and a consensus price target of $101.74.
About Sina Corporation
Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.
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