Russell Investments Group Ltd. increased its stake in Weibo Corp (NASDAQ:WB) by 12.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 545,238 shares of the information services provider’s stock after acquiring an additional 61,633 shares during the period. Russell Investments Group Ltd.’s holdings in Weibo were worth $48,152,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC bought a new position in Weibo during the 2nd quarter valued at approximately $101,000. Greenleaf Trust bought a new position in Weibo during the 1st quarter valued at approximately $232,000. AdvisorNet Financial Inc raised its position in shares of Weibo by 2,580.0% in the 2nd quarter. AdvisorNet Financial Inc now owns 2,680 shares of the information services provider’s stock worth $238,000 after acquiring an additional 2,580 shares in the last quarter. Atria Investments LLC bought a new position in shares of Weibo in the 1st quarter worth approximately $250,000. Finally, BB&T Securities LLC bought a new position in shares of Weibo in the 1st quarter worth approximately $284,000. 23.78% of the stock is owned by institutional investors.
Shares of NASDAQ:WB opened at $74.90 on Monday. Weibo Corp has a 52-week low of $70.13 and a 52-week high of $142.12. The company has a market capitalization of $17.82 billion, a PE ratio of 48.01 and a beta of 2.42. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.97 and a quick ratio of 3.97.
Weibo (NASDAQ:WB) last posted its quarterly earnings results on Wednesday, August 8th. The information services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.02. The company had revenue of $426.60 million for the quarter, compared to the consensus estimate of $426.54 million. Weibo had a return on equity of 37.75% and a net margin of 32.03%. The firm’s quarterly revenue was up 68.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 EPS. equities research analysts forecast that Weibo Corp will post 2.68 EPS for the current year.
Several research analysts have recently issued reports on the company. BidaskClub lowered Weibo from a “sell” rating to a “strong sell” rating in a research report on Saturday. Jefferies Financial Group decreased their target price on Weibo from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, August 9th. ValuEngine lowered Weibo from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. OTR Global assumed coverage on Weibo in a research report on Monday, August 6th. They issued a “positive” rating for the company. Finally, Barclays reissued a “buy” rating and issued a $130.00 target price (down previously from $150.00) on shares of Weibo in a research report on Sunday, July 29th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $133.75.
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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