Citigroup Inc. Grows Position in Weibo Co. (NASDAQ:WB)

Citigroup Inc. boosted its stake in Weibo Co. (NASDAQ:WB) by 347.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 602,853 shares of the information services provider’s stock after acquiring an additional 468,072 shares during the period. Citigroup Inc. owned 0.26% of Weibo worth $6,077,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Weibo by 17.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock worth $134,000 after acquiring an additional 1,970 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Weibo by 21.5% during the second quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider’s stock valued at $397,000 after purchasing an additional 9,143 shares during the period. Deltec Asset Management LLC acquired a new stake in Weibo during the 2nd quarter valued at approximately $82,000. Creative Planning acquired a new stake in Weibo in the third quarter valued at $112,000. Finally, Seven Eight Capital LP bought a new stake in Weibo in the second quarter valued at about $110,000. Hedge funds and other institutional investors own 68.77% of the company’s stock.

Weibo Trading Up 1.5 %

Weibo stock opened at $9.60 on Monday. The business has a 50 day moving average price of $9.33 and a two-hundred day moving average price of $8.49. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 6.58 and a beta of 0.24. Weibo Co. has a 12 month low of $7.03 and a 12 month high of $12.40.

Wall Street Analyst Weigh In

WB has been the subject of a number of research reports. StockNews.com downgraded Weibo from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Morgan Stanley dropped their target price on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Nomura Securities upgraded Weibo to a “hold” rating in a research report on Monday, August 26th. Benchmark reiterated a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th. Finally, Citigroup increased their price objective on Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.23.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute 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.