BNP Paribas Arbitrage SA Increases Stake in Sina Corp. (SINA)
BNP Paribas Arbitrage SA boosted its stake in Sina Corp. (NASDAQ:SINA) by 2,840.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,499 shares of the company’s stock after buying an additional 2,414 shares during the period. BNP Paribas Arbitrage SA’s holdings in Sina Corp. were worth $185,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of SINA. Schroder Investment Management Group raised its stake in shares of Sina Corp. by 159.0% in the second quarter. Schroder Investment Management Group now owns 4,013,943 shares of the company’s stock valued at $208,203,000 after buying an additional 2,464,232 shares in the last quarter. Platinum Investment Management Ltd. raised its stake in shares of Sina Corp. by 21.4% in the second quarter. Platinum Investment Management Ltd. now owns 5,211,734 shares of the company’s stock valued at $270,332,000 after buying an additional 918,532 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Sina Corp. during the second quarter valued at about $28,368,000. First Manhattan Co. purchased a new stake in shares of Sina Corp. during the second quarter valued at about $21,142,000. Finally, Ariose Capital Management Ltd purchased a new stake in shares of Sina Corp. during the second quarter valued at about $17,320,000. 58.88% of the stock is owned by institutional investors and hedge funds.
Sina Corp. (NASDAQ:SINA) opened at 75.98 on Friday. The firm has a 50-day moving average price of $76.00 and a 200-day moving average price of $58.02. The company has a market cap of $5.32 billion, a P/E ratio of 61.52 and a beta of 1.39. Sina Corp. has a 12-month low of $39.58 and a 12-month high of $85.24.
Sina Corp. (NASDAQ:SINA) last announced its earnings results on Monday, August 8th. The company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.12. The firm earned $244 million during the quarter, compared to analysts’ expectations of $231.09 million. Sina Corp. had a return on equity of 0.32% and a net margin of 8.97%. The company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS. On average, equities research analysts forecast that Sina Corp. will post $1.09 earnings per share for the current fiscal year.
SINA has been the subject of several research reports. Jefferies Group raised Sina Corp. from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Friday, July 22nd. Citigroup Inc. assumed coverage on Sina Corp. in a research note on Friday, August 5th. They set a “buy” rating and a $69.00 price objective for the company. Brean Capital reissued a “buy” rating on shares of Sina Corp. in a research note on Tuesday, July 26th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Sina Corp. in a research note on Wednesday, August 31st. Finally, TheStreet raised Sina Corp. to a “buy” rating in a research note on Friday, August 19th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Sina Corp. presently has an average rating of “Buy” and a consensus target price of $60.14.
About Sina Corp.
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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