Sina Corp. (SINA) Sees Large Volume Increase
Sina Corp. (NASDAQ:SINA) shares saw unusually-strong 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.
Several equities analysts have recently commented on SINA shares. Zacks Investment Research cut shares of Sina Corp. from a “buy” rating to a “hold” rating in a research report on Friday, May 20th. Brean Capital restated a “buy” rating on shares of Sina Corp. in a research report on Tuesday, June 7th. Finally, Citigroup Inc. started coverage on shares of Sina Corp. in a research report on Friday, August 5th. They issued a “buy” rating and a $69.00 target price for the company. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $55.84.
The firm has a 50 day moving average price of $54.95 and a 200-day moving average price of $49.42. The firm has a market cap of $4.94 billion and a PE ratio of 57.12.
Sina Corp. (NASDAQ:SINA) last issued its earnings results on Monday, August 8th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. The business had revenue of $244 million for the quarter, compared to the consensus estimate of $231.09 million. Sina Corp.’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 EPS. On average, equities research analysts predict that Sina Corp. will post $1.05 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Sina Corp. stock. First Trust Advisors LP raised its position 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 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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