Sina Corp. (SINA) Trading Up 3.8%
Sina Corp. (NASDAQ:SINA) shares were up 3.8% during mid-day trading on Thursday . The company traded as high as $52.79 and last traded at $52.17, with a volume of 458,958 shares changing hands. The stock had previously closed at $50.24.
A number of research analysts recently issued reports on SINA shares. Brean Capital restated a “buy” rating on shares of Sina Corp. in a research report on Tuesday, June 7th. Zacks Investment Research downgraded Sina Corp. from a “buy” rating to a “hold” rating in a research note on Friday, May 20th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Sina Corp. currently has a consensus rating of “Buy” and an average price target of $50.76.
The company has a market cap of $3.67 billion and a P/E ratio of 66.47. The firm’s 50-day moving average price is $50.64 and its 200-day moving average price is $47.79.
Sina Corp. (NASDAQ:SINA) last released its quarterly earnings results on Wednesday, May 11th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The business earned $198.70 million during the quarter, compared to analyst estimates of $189.47 million. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 earnings per share. On average, analysts forecast that Sina Corp. will post $0.83 earnings per share for the current year.
A number of hedge funds and institutional investors have recently made changes to their positions in the stock. Russell Frank Co increased its position in shares of Sina Corp. by 61.7% in the fourth quarter. Russell Frank Co now owns 367,846 shares of the company’s stock valued at $18,140,000 after buying an additional 140,344 shares in the last quarter. Numeric Investors LLC purchased a new position in shares of Sina Corp. during the fourth quarter valued at approximately $4,773,000. Finally, First Trust Advisors LP increased its position in shares of Sina Corp. by 4.5% in the fourth quarter. First Trust Advisors LP now owns 31,426 shares of the company’s stock valued at $1,552,000 after buying an additional 1,352 shares in the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.