Seatown Holdings Pte. Ltd. Takes Position in Weibo Corporation (WB)
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.
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.
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