Sina Corp. (SINA) Sees Large Volume Increase
Sina Corp. (NASDAQ:SINA) saw unusually-high trading volume on Thursday . Approximately 1,313,504 shares traded hands during mid-day trading, an increase of 61% from the previous session’s volume of 818,382 shares.The stock last traded at $70.19 and had previously closed at $67.94.
SINA has been the topic of a number of analyst reports. Brean Capital restated a “buy” rating on shares of Sina Corp. in a research report on Tuesday, July 19th. Zacks Investment Research upgraded shares of Sina Corp. from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Thursday, May 19th. Jefferies Group upgraded shares of Sina Corp. from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Friday, July 22nd. Finally, Citigroup Inc. initiated coverage on shares of Sina Corp. in a research report on Friday, August 5th. They issued a “buy” rating and a $69.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $55.84.
The company has a 50 day moving average of $54.40 and a 200-day moving average of $49.24. The firm has a market cap of $4.91 billion and a price-to-earnings ratio of 56.70.
Sina Corp. (NASDAQ:SINA) last released its earnings results on Monday, August 8th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.12. The firm earned $244 million during the quarter, compared to the consensus estimate of $231.09 million. During the same quarter last year, the business posted $0.06 EPS. Sina Corp.’s revenue was up 14.4% compared to the same quarter last year. On average, equities research analysts expect that Sina Corp. will post $1.02 EPS for the current fiscal year.
An institutional investor recently raised its position in Sina Corp. stock. First Trust Advisors LP boosted its stake in Sina Corp. (NASDAQ:SINA) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,426 shares of the company’s stock after buying an additional 1,352 shares during the period. First Trust Advisors LP owned 0.05% of Sina Corp. worth $1,552,000 as of its most recent filing with the SEC.
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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