Contrarius Investment Management Ltd acquired a new stake in shares of Weibo Corp (NASDAQ:WB) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 78,715 shares of the information services provider’s stock, valued at approximately $4,599,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. bought a new position in shares of Weibo in the fourth quarter valued at approximately $44,000. Quantamental Technologies LLC bought a new position in Weibo in the 4th quarter worth approximately $58,000. Exane Derivatives bought a new position in Weibo in the 4th quarter worth approximately $64,000. Lavaca Capital LLC bought a new position in Weibo in the 4th quarter worth approximately $73,000. Finally, Ipswich Investment Management Co. Inc. bought a new position in Weibo in the 4th quarter worth approximately $110,000. 25.42% of the stock is currently owned by institutional investors.
Several research analysts recently weighed in on WB shares. BidaskClub upgraded shares of Weibo from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 3rd. Morgan Stanley cut shares of Weibo from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, January 8th. Jefferies Financial Group cut shares of Weibo from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $83.00 to $58.00 in a research report on Thursday, January 24th. Barclays set a $90.00 price objective on shares of Weibo and gave the stock a “buy” rating in a research report on Thursday, October 18th. Finally, UBS Group cut shares of Weibo from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $82.67.
Shares of Weibo stock opened at $61.03 on Monday. The firm has a market cap of $13.59 billion, a price-to-earnings ratio of 39.12, a price-to-earnings-growth ratio of 1.13 and a beta of 2.01. Weibo Corp has a 52 week low of $51.15 and a 52 week high of $142.12. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.99 and a quick ratio of 3.99.
Weibo (NASDAQ:WB) last issued its earnings results on Wednesday, November 28th. The information services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. The company had revenue of $460.20 million during the quarter, compared to analysts’ expectations of $459.68 million. Weibo had a net margin of 33.23% and a return on equity of 38.71%. The business’s revenue for the quarter was up 43.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS. As a group, sell-side analysts forecast that Weibo Corp will post 2.48 EPS for the current year.
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates through two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.
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