Sina Corp. (SINA) Trading Up 3.7%
Sina Corp. (NASDAQ:SINA)’s share price was up 3.7% on Wednesday . The stock traded as high as $52.42 and last traded at $52.31, with a volume of 242,560 shares trading hands. The stock had previously closed at $50.46.
Several equities analysts recently weighed in on SINA shares. Zacks Investment Research upgraded Sina Corp. from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Tuesday, June 28th. Brean Capital restated a “buy” rating on shares of Sina Corp. in a research note on Tuesday, June 7th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $50.83.
The stock’s 50 day moving average price is $51.70 and its 200-day moving average price is $47.99. The company has a market capitalization of $3.64 billion and a price-to-earnings ratio of 65.79.
Sina Corp. (NASDAQ:SINA) last announced its quarterly earnings results on Wednesday, May 11th. The company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. The company earned $198.70 million during the quarter, compared to analyst estimates of $189.47 million. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 EPS. Equities research analysts predict that Sina Corp. will post $0.81 EPS for the current fiscal year.
A hedge fund recently raised its stake in Sina Corp. stock. First Trust Advisors LP increased its position in shares of Sina Corp. (NASDAQ:SINA) by 4.5% during the fourth quarter, according to its most recent 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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