Sina Corp. (SINA) Trading 3.8% Higher
Sina Corp. (NASDAQ:SINA)’s share price traded up 3.8% during trading on Thursday . The stock 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.
Several equities analysts have commented on the stock. Zacks Investment Research raised shares of Sina Corp. from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Tuesday, June 28th. Brean Capital reissued a “buy” rating on shares of Sina Corp. in a research note on Tuesday, June 7th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $50.76.
The stock has a market capitalization of $3.72 billion and a P/E ratio of 67.32. The company has a 50-day moving average of $51.07 and a 200 day moving average of $47.85.
Sina Corp. (NASDAQ:SINA) last released its quarterly earnings results on Wednesday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. The business earned $198.70 million during the quarter, compared to the consensus estimate of $189.47 million. During the same period in the prior year, the firm earned $0.04 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities analysts predict that Sina Corp. will post $0.83 EPS for the current year.
A hedge fund recently raised its stake in Sina Corp. stock. First Trust Advisors LP boosted its stake in Sina Corp. (NASDAQ:SINA) by 4.5% during the fourth quarter, Holdings Channel reports. 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 0.05% of Sina Corp. worth $1,552,000 at the end of the most recent reporting period.
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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