Long Corridor Asset Management Ltd Has $3.04 Million Position in Weibo Co. (NASDAQ:WB)

Long Corridor Asset Management Ltd trimmed its holdings in shares of Weibo Co. (NASDAQ:WB) by 65.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 318,555 shares of the information services provider’s stock after selling 606,349 shares during the period. Weibo makes up about 2.3% of Long Corridor Asset Management Ltd’s holdings, making the stock its 14th biggest position. Long Corridor Asset Management Ltd owned approximately 0.13% of Weibo worth $3,042,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of WB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Weibo by 60.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 282,199 shares of the information services provider’s stock worth $2,845,000 after purchasing an additional 105,780 shares during the period. Citigroup Inc. grew its holdings in Weibo by 347.3% in the 3rd quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock valued at $6,077,000 after buying an additional 468,072 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Weibo by 78.1% during the third quarter. Geode Capital Management LLC now owns 223,447 shares of the information services provider’s stock worth $2,252,000 after buying an additional 98,017 shares during the last quarter. Caprock Group LLC acquired a new position in shares of Weibo during the fourth quarter worth approximately $229,000. Finally, E Fund Management Co. Ltd. boosted its position in shares of Weibo by 1,003.7% in the fourth quarter. E Fund Management Co. Ltd. now owns 458,206 shares of the information services provider’s stock valued at $4,376,000 after acquiring an additional 416,690 shares during the period. Institutional investors and hedge funds own 68.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Weibo from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.03.

Weibo Stock Performance

Shares of NASDAQ:WB opened at $10.19 on Tuesday. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 6.98 and a beta of 0.27. The business’s fifty day moving average price is $10.35 and its two-hundred day moving average price is $9.63. Weibo Co. has a fifty-two week low of $7.03 and a fifty-two week high of $12.40. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.57 and a quick ratio of 3.57.

Weibo Dividend Announcement

The company also recently declared an annual dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 9th will be issued a dividend of $0.82 per share. This represents a yield of 7.77%. The ex-dividend date of this dividend is Wednesday, April 9th. Weibo’s dividend payout ratio is currently 68.97%.

Weibo Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute content in the People’s Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.