Seven Eight Capital LP purchased a new position in shares of Weibo Co. (NASDAQ:WB – Free Report) 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.
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.
View Our Latest Report on Weibo
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.
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