Connor Clark & Lunn Investment Management Ltd. Raises Stake in Weibo Co. (NASDAQ:WB)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Weibo Co. (NASDAQ:WB) by 17.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,261 shares of the information services provider’s stock after buying an additional 1,970 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Weibo were worth $134,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in WB. Deltec Asset Management LLC purchased a new position in shares of Weibo during the 2nd quarter valued at $82,000. Seven Eight Capital LP bought a new stake in Weibo in the 2nd quarter valued at about $110,000. Creative Planning purchased a new stake in Weibo during the third quarter valued at about $112,000. Diversified Trust Co bought a new position in Weibo during the third quarter worth about $194,000. Finally, Caxton Associates LP increased its stake in shares of Weibo by 55.9% in the second quarter. Caxton Associates LP now owns 50,239 shares of the information services provider’s stock worth $386,000 after purchasing an additional 18,008 shares in the last quarter. Hedge funds and other institutional investors own 68.77% of the company’s stock.

Weibo Price Performance

Weibo stock opened at $9.60 on Monday. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 6.58 and a beta of 0.24. 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 business has a 50-day simple moving average of $9.33 and a 200 day simple moving average of $8.49. Weibo Co. has a 52 week low of $7.03 and a 52 week high of $12.40.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Morgan Stanley dropped their price target on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note 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. 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. Finally, StockNews.com downgraded Weibo from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Weibo has a consensus rating of “Hold” and an average target price of $10.23.

Weibo Company Profile

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.