Pendal Group Ltd Boosts Position in Weibo Corp (NASDAQ:WB)

Pendal Group Ltd increased its stake in Weibo Corp (NASDAQ:WB) by 10.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 378,169 shares of the information services provider’s stock after acquiring an additional 34,528 shares during the quarter. Pendal Group Ltd’s holdings in Weibo were worth $16,627,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of Weibo by 5.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 210,900 shares of the information services provider’s stock worth $12,338,000 after buying an additional 10,233 shares during the period. Geode Capital Management LLC increased its stake in shares of Weibo by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 151,136 shares of the information services provider’s stock worth $8,789,000 after buying an additional 2,401 shares during the period. Bank of America Corp DE increased its stake in shares of Weibo by 38.7% during the fourth quarter. Bank of America Corp DE now owns 124,975 shares of the information services provider’s stock worth $7,303,000 after buying an additional 34,880 shares during the period. Millennium Management LLC increased its stake in shares of Weibo by 28.4% during the fourth quarter. Millennium Management LLC now owns 82,020 shares of the information services provider’s stock worth $4,792,000 after buying an additional 18,151 shares during the period. Finally, FMR LLC increased its stake in shares of Weibo by 21,207.0% during the fourth quarter. FMR LLC now owns 42,614 shares of the information services provider’s stock worth $2,490,000 after buying an additional 42,414 shares during the period. 24.74% of the stock is currently owned by institutional investors.

A number of analysts recently weighed in on WB shares. Jefferies Financial Group started coverage on shares of Weibo in a research note on Monday, August 5th. They set a “hold” rating and a $43.60 target price on the stock. Credit Suisse Group lowered shares of Weibo from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. Benchmark restated a “buy” rating and set a $51.00 target price (down from $81.00) on shares of Weibo in a research note on Friday, May 24th. TheStreet lowered shares of Weibo from a “b-” rating to a “c+” rating in a research note on Friday, May 31st. Finally, ValuEngine lowered shares of Weibo from a “sell” rating to a “strong sell” rating in a research note on Monday, May 20th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $60.46.

Weibo stock traded up $0.95 during mid-day trading on Tuesday, hitting $36.48. The company had a trading volume of 92,260 shares, compared to its average volume of 2,026,492. The stock has a market cap of $7.99 billion, a PE ratio of 14.50 and a beta of 2.21. Weibo Corp has a 1 year low of $34.26 and a 1 year high of $83.35. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.44 and a current ratio of 3.44. The business has a fifty day moving average of $40.62.

Weibo (NASDAQ:WB) last announced its quarterly earnings results on Thursday, May 23rd. The information services provider reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.06. The company had revenue of $399.18 million for the quarter, compared to analyst estimates of $399.65 million. Weibo had a net margin of 35.25% and a return on equity of 37.16%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 earnings per share. As a group, equities analysts expect that Weibo Corp will post 2.49 EPS for the current year.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates in 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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Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

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