Sina Corporation (SINA) Stake Lowered by Fosun International Ltd

Fosun International Ltd trimmed its stake in shares of Sina Corporation (NASDAQ:SINA) by 95.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,273,918 shares of the technology company’s stock after selling 28,284,796 shares during the period. Sina Corporation accounts for 13.4% of Fosun International Ltd’s portfolio, making the stock its largest holding. Fosun International Ltd owned approximately 1.80% of Sina Corporation worth $108,245,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Teacher Retirement System of Texas grew its stake in Sina Corporation by 0.4% during the first quarter. Teacher Retirement System of Texas now owns 4,583 shares of the technology company’s stock valued at $331,000 after acquiring an additional 18 shares in the last quarter. World Asset Management Inc grew its stake in Sina Corporation by 1.2% during the first quarter. World Asset Management Inc now owns 4,401 shares of the technology company’s stock valued at $317,000 after acquiring an additional 52 shares in the last quarter. Comerica Bank grew its stake in Sina Corporation by 1.4% during the first quarter. Comerica Bank now owns 4,063 shares of the technology company’s stock valued at $312,000 after acquiring an additional 55 shares in the last quarter. Bank of Montreal Can grew its stake in Sina Corporation by 11.7% during the second quarter. Bank of Montreal Can now owns 1,452 shares of the technology company’s stock valued at $123,000 after acquiring an additional 152 shares in the last quarter. Finally, Cadence Capital Management LLC grew its stake in Sina Corporation by 1.6% during the second quarter. Cadence Capital Management LLC now owns 10,000 shares of the technology company’s stock valued at $850,000 after acquiring an additional 160 shares in the last quarter. 67.01% of the stock is owned by institutional investors.

Shares of Sina Corporation (SINA) traded down 0.93% during trading on Friday, hitting $116.33. 2,928,781 shares of the company’s stock were exchanged. The company has a market cap of $8.28 billion, a P/E ratio of 38.09 and a beta of 1.18. The company has a 50-day moving average of $102.40 and a 200-day moving average of $87.36. Sina Corporation has a 12-month low of $60.46 and a 12-month high of $118.85.

Sina Corporation (NASDAQ:SINA) last issued 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. The business had revenue of $358.93 million during the quarter, compared to analysts’ expectations of $344.23 million. Sina Corporation had a net margin of 18.64% and a return on equity of 6.58%. The company’s quarterly revenue was up 47.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share. On average, equities analysts expect that Sina Corporation will post $2.92 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Transcript Daily and is owned by of Transcript Daily. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://transcriptdaily.com/2017/09/17/sina-corporation-sina-stake-lowered-by-fosun-international-ltd.html.

Several equities analysts recently weighed in on the stock. Citigroup Inc. raised their target price on shares of Sina Corporation to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 10th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Sina Corporation in a research note on Friday, June 23rd. Bank of America Corporation reaffirmed a “buy” rating and set a $119.00 target price (up from $112.00) on shares of Sina Corporation in a research note on Thursday, August 10th. BidaskClub raised shares of Sina Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $122.00 target price on shares of Sina Corporation in a research note on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $101.74.

Sina Corporation Company Profile

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.

Want to see what other hedge funds are holding SINA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sina Corporation (NASDAQ:SINA).

Institutional Ownership by Quarter for Sina Corporation (NASDAQ:SINA)

Receive News & Ratings for Sina Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sina Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply