Seatown Holdings Pte. Ltd. purchased a new stake in Weibo Corporation (NASDAQ:WB) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 200,000 shares of the information services provider’s stock, valued at approximately $13,294,000. Weibo Corporation makes up 1.9% of Seatown Holdings Pte. Ltd.’s investment portfolio, making the stock its 21st largest position.

A number of other large investors have also recently modified their holdings of the company. Alta Advisers Ltd increased its position in Weibo Corporation by 5.0% in the first quarter. Alta Advisers Ltd now owns 2,100 shares of the information services provider’s stock valued at $110,000 after buying an additional 100 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Weibo Corporation during the first quarter valued at approximately $162,000. Victory Capital Management Inc. increased its position in Weibo Corporation by 16.0% in the first quarter. Victory Capital Management Inc. now owns 3,894 shares of the information services provider’s stock valued at $203,000 after buying an additional 537 shares in the last quarter. Hilton Capital Management LLC bought a new position in Weibo Corporation during the first quarter valued at approximately $206,000. Finally, Koch Industries Inc. bought a new position in Weibo Corporation during the first quarter valued at approximately $248,000. 16.75% of the stock is owned by hedge funds and other institutional investors.

Weibo Corporation (NASDAQ:WB) opened at 78.77 on Friday. The stock has a market cap of $16.33 billion, a PE ratio of 119.71 and a beta of 2.66. Weibo Corporation has a one year low of $32.40 and a one year high of $82.28.

Weibo Corporation (NASDAQ:WB) last posted its quarterly earnings data on Tuesday, May 16th. The information services provider reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.05. Weibo Corporation had a net margin of 20.10% and a return on equity of 20.00%. The company had revenue of $199.20 million for the quarter, compared to analyst estimates of $188.29 million. During the same period in the prior year, the company posted $0.07 EPS. The firm’s revenue for the quarter was up 67.0% on a year-over-year basis. On average, equities research analysts expect that Weibo Corporation will post $1.51 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Seatown Holdings Pte. Ltd. Takes Position in Weibo Corporation (WB)” was first posted by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The correct version of this news story can be read at https://www.dailypolitical.com/2017/08/05/seatown-holdings-pte-ltd-takes-position-in-weibo-corporation-wb.html.

WB has been the topic of several analyst reports. TheStreet upgraded Weibo Corporation from a “c” rating to a “b-” rating in a report on Monday, April 17th. BidaskClub downgraded Weibo Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Jefferies Group LLC reiterated a “buy” rating on shares of Weibo Corporation in a report on Monday, June 26th. Benchmark Co. initiated coverage on Weibo Corporation in a report on Tuesday, April 18th. They issued a “buy” rating and a $65.00 price objective on the stock. Finally, Zacks Investment Research upgraded Weibo Corporation from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Thursday, April 27th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $66.95.

Weibo Corporation Company Profile

Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.

Institutional Ownership by Quarter for Weibo Corporation (NASDAQ:WB)

Receive News & Ratings for Weibo Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weibo Corporation and related companies with MarketBeat.com's FREE daily email newsletter.