Seven Eight Capital LP Invests $110,000 in Weibo Co. (NASDAQ:WB)

Seven Eight Capital LP purchased a new position in shares of Weibo Co. (NASDAQ:WB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,376 shares of the information services provider’s stock, valued at approximately $110,000.

Several other institutional investors have also modified their holdings of WB. Trexquant Investment LP grew its position in shares of Weibo by 131.2% during the fourth quarter. Trexquant Investment LP now owns 152,655 shares of the information services provider’s stock worth $1,672,000 after acquiring an additional 86,641 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Weibo by 226.3% in the fourth quarter. Hsbc Holdings PLC now owns 246,841 shares of the information services provider’s stock worth $2,703,000 after purchasing an additional 171,188 shares during the period. Edmond DE Rothschild Holding S.A. lifted its holdings in Weibo by 122.6% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 128,393 shares of the information services provider’s stock worth $1,406,000 after purchasing an additional 70,720 shares during the period. Weiss Asset Management LP acquired a new stake in Weibo in the fourth quarter worth about $1,130,000. Finally, KBC Group NV lifted its holdings in Weibo by 79.4% in the fourth quarter. KBC Group NV now owns 112,397 shares of the information services provider’s stock worth $1,231,000 after purchasing an additional 49,742 shares during the period. Institutional investors own 68.77% of the company’s stock.

Weibo Price Performance

Shares of NASDAQ WB opened at $7.76 on Tuesday. Weibo Co. has a twelve month low of $7.03 and a twelve month high of $13.54. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 6.52, a PEG ratio of 1.22 and a beta of 0.22. The firm has a 50-day moving average of $7.66 and a two-hundred day moving average of $8.36.

Weibo (NASDAQ:WB) last issued its quarterly earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.10. Weibo had a net margin of 18.52% and a return on equity of 11.01%. The company had revenue of $437.90 million during the quarter, compared to the consensus estimate of $437.97 million. During the same period in the prior year, the company earned $0.42 EPS. Weibo’s revenue was down .5% on a year-over-year basis. As a group, analysts expect that Weibo Co. will post 1.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on WB. Morgan Stanley reduced their price objective on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, August 23rd. Nomura Securities raised shares of Weibo to a “hold” rating in a report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.88.

About Weibo

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.