Bank of Montreal Can decreased its holdings in shares of Weibo Corp (NASDAQ:WB) by 59.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,023 shares of the information services provider’s stock after selling 57,670 shares during the quarter. Bank of Montreal Can’s holdings in Weibo were worth $2,853,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Atlas Capital Advisors LLC acquired a new position in Weibo in the second quarter valued at $101,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in Weibo by 43.8% in the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the information services provider’s stock valued at $204,000 after acquiring an additional 700 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in Weibo by 2,580.0% in the second quarter. AdvisorNet Financial Inc now owns 2,680 shares of the information services provider’s stock valued at $238,000 after acquiring an additional 2,580 shares during the last quarter. Yorktown Management & Research Co Inc acquired a new position in Weibo in the second quarter valued at $240,000. Finally, Fox Run Management L.L.C. acquired a new position in Weibo in the third quarter valued at $273,000. Institutional investors and hedge funds own 24.14% of the company’s stock.
A number of brokerages recently weighed in on WB. Zacks Investment Research cut Weibo from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. Jefferies Financial Group reissued a “buy” rating and issued a $145.00 price objective on shares of Weibo in a research report on Tuesday, July 24th. Barclays reissued a “buy” rating and issued a $130.00 price objective (down from $150.00) on shares of Weibo in a research report on Sunday, July 29th. ValuEngine lowered Weibo from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Finally, OTR Global began coverage on Weibo in a research report on Monday, August 6th. They issued a “positive” rating on the stock. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $112.00.
NASDAQ:WB opened at $65.00 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.97 and a current ratio of 3.97. Weibo Corp has a 12 month low of $53.11 and a 12 month high of $142.12. The stock has a market capitalization of $14.32 billion, a price-to-earnings ratio of 41.67 and a beta of 2.41.
Weibo (NASDAQ:WB) last released its quarterly earnings data on Wednesday, August 8th. The information services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.66 by $0.02. Weibo had a return on equity of 37.75% and a net margin of 32.03%. The company had revenue of $426.60 million for the quarter, compared to analyst estimates of $426.54 million. During the same period last year, the company posted $0.38 earnings per share. The firm’s revenue was up 68.4% compared to the same quarter last year. Equities research analysts anticipate that Weibo Corp will post 2.49 EPS for the current fiscal year.
Weibo Company Profile
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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