Bank of Montreal Can Has $2.85 Million Stake in Weibo Corp (WB)

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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.

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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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Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

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