Sina Corp. (SINA) Hits New 12-Month High at $55.02
Shares of Sina Corp. (NASDAQ:SINA) hit a new 52-week high during trading on Tuesday . The stock traded as high as $55.02 and last traded at $54.95, with a volume of 389,385 shares trading hands. The stock had previously closed at $53.59.
SINA has been the subject of several research analyst reports. Zacks Investment Research raised shares of Sina Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Brean Capital reissued a “buy” rating on shares of Sina Corp. in a report on Thursday, May 12th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $50.76.
The firm has a market capitalization of $3.68 billion and a P/E ratio of 66.55. The company has a 50-day moving average price of $51.68 and a 200-day moving average price of $47.91.
Sina Corp. (NASDAQ:SINA) last released its earnings results on Wednesday, May 11th. The company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. The company earned $198.70 million during the quarter, compared to analysts’ expectations of $189.47 million. During the same quarter in the previous year, the firm earned $0.04 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. Analysts anticipate that Sina Corp. will post $0.81 earnings per share for the current year.
An institutional investor recently raised its position in Sina Corp. stock. First Trust Advisors LP raised its stake in shares of Sina Corp. (NASDAQ:SINA) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,426 shares of the company’s stock after buying an additional 1,352 shares during the period. First Trust Advisors LP owned about 0.05% of Sina Corp. worth $1,552,000 as of its most recent SEC filing.
Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.
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