Vontobel Holding Ltd. acquired a new stake in shares of Weibo Co. (NASDAQ:WB – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,341 shares of the information services provider’s stock, valued at approximately $136,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado purchased a new position in Weibo during the first quarter valued at approximately $40,000. Tower Research Capital LLC TRC grew its stake in Weibo by 10,618.7% in the first quarter. Tower Research Capital LLC TRC now owns 8,039 shares of the information services provider’s stock valued at $162,000 after purchasing an additional 7,964 shares in the last quarter. Harvest Fund Management Co. Ltd grew its stake in Weibo by 7.0% in the first quarter. Harvest Fund Management Co. Ltd now owns 46,529 shares of the information services provider’s stock valued at $933,000 after purchasing an additional 3,024 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Weibo in the first quarter valued at about $33,071,000. Finally, SeaTown Holdings Pte. Ltd. purchased a new position in Weibo in the first quarter valued at about $7,021,000. 29.81% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have issued reports on WB. Benchmark cut shares of Weibo from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Bank of America reduced their target price on shares of Weibo from $24.00 to $19.50 and set a “buy” rating for the company in a research note on Friday, August 25th. HSBC cut their target price on Weibo from $18.00 to $14.60 in a report on Friday, August 25th. StockNews.com upgraded Weibo from a “buy” rating to a “strong-buy” rating in a report on Friday. Finally, Citigroup cut their target price on Weibo from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, August 25th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.87.
Weibo Price Performance
Shares of NASDAQ:WB opened at $12.26 on Monday. Weibo Co. has a 1-year low of $10.02 and a 1-year high of $25.57. The firm has a market capitalization of $2.87 billion, a PE ratio of 9.50, a PEG ratio of 1.38 and a beta of 0.58. The business’s 50 day moving average is $12.79 and its 200-day moving average is $14.53. The company has a current ratio of 3.56, a quick ratio of 3.56 and a debt-to-equity ratio of 0.77.
Weibo (NASDAQ:WB – Get Free Report) last announced its quarterly earnings data on Thursday, August 24th. The information services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.02. The company had revenue of $440.20 million for the quarter, compared to analyst estimates of $442.66 million. Weibo had a return on equity of 13.22% and a net margin of 17.47%. Weibo’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 EPS. Sell-side analysts predict that Weibo Co. will post 1.64 earnings per share for the current year.
Weibo Profile
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover 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.
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