Investors Buy High Volume of Put Options on SINA (SINA)

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SINA Corp (NASDAQ:SINA) was the recipient of some unusual options trading on Tuesday. Investors bought 3,453 put options on the stock. This represents an increase of approximately 1,717% compared to the typical daily volume of 190 put options.

Several equities analysts have issued reports on SINA shares. BidaskClub upgraded SINA from a “strong sell” rating to a “sell” rating in a research note on Friday, March 22nd. Credit Suisse Group started coverage on SINA in a research note on Monday, February 4th. They issued a “neutral” rating and a $58.50 target price on the stock. Benchmark lifted their target price on SINA from $96.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Deutsche Bank lowered SINA from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, Zacks Investment Research lowered SINA from a “buy” rating to a “hold” rating in a research note on Thursday, February 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. SINA presently has an average rating of “Hold” and an average target price of $100.08.

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of SINA by 11.2% during the third quarter. JPMorgan Chase & Co. now owns 53,239 shares of the technology company’s stock worth $3,698,000 after acquiring an additional 5,378 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of SINA by 3.1% during the third quarter. Teachers Advisors LLC now owns 31,701 shares of the technology company’s stock worth $2,203,000 after acquiring an additional 943 shares during the last quarter. Genesis Asset Managers LLP purchased a new stake in shares of SINA during the fourth quarter worth about $188,299,000. Virtu Financial LLC purchased a new stake in shares of SINA during the fourth quarter worth about $464,000. Finally, Fosun International Ltd grew its stake in shares of SINA by 4.2% during the fourth quarter. Fosun International Ltd now owns 1,931,776 shares of the technology company’s stock worth $103,620,000 after acquiring an additional 78,485 shares during the last quarter. Institutional investors and hedge funds own 65.73% of the company’s stock.

SINA opened at $63.73 on Wednesday. SINA has a 1 year low of $51.76 and a 1 year high of $100.38. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.99 and a current ratio of 2.91. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 37.49 and a beta of 1.08.

SINA (NASDAQ:SINA) last posted its earnings results on Tuesday, March 5th. The technology company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.48). SINA had a net margin of 5.96% and a return on equity of 3.39%. The company had revenue of $573.01 million during the quarter, compared to analysts’ expectations of $575.29 million. During the same quarter last year, the firm earned $0.79 EPS. SINA’s revenue for the quarter was up 13.8% on a year-over-year basis. Sell-side analysts predict that SINA will post 3.23 EPS for the current fiscal year.

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SINA Company Profile

SINA Corporation, through its subsidiaries, operates as an online media company in the People's Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including multimedia news; business news coverage and personal finance columns; sporting events news; automobile-related news; entertainment news and events; technology updates; interactive video products, such as news, sports, and entertainment; and education, digital, fashion, luxury, health, collectibles, travel, and other interest-based channels.

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