World Asset Management Inc raised its stake in Weibo Corporation (NASDAQ:WB) by 10.6% during the second quarter, Holdings Channel reports. The institutional investor owned 6,870 shares of the information services provider’s stock after buying an additional 661 shares during the period. World Asset Management Inc’s holdings in Weibo Corporation were worth $457,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Alta Advisers Ltd increased its stake 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 worth $110,000 after buying an additional 100 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Weibo Corporation during the first quarter worth $162,000. Victory Capital Management Inc. increased its stake 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 worth $203,000 after buying an additional 537 shares during the period. Hilton Capital Management LLC purchased a new stake in Weibo Corporation during the first quarter worth $206,000. Finally, Koch Industries Inc. purchased a new stake in Weibo Corporation during the first quarter worth $248,000. Institutional investors and hedge funds own 16.79% of the company’s stock.

Shares of Weibo Corporation (NASDAQ:WB) opened at 82.72 on Friday. Weibo Corporation has a 12 month low of $40.12 and a 12 month high of $88.88.

Weibo Corporation (NASDAQ:WB) last issued its quarterly earnings data on Wednesday, August 9th. The information services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Weibo Corporation had a net margin of 23.22% and a return on equity of 25.65%. The business had revenue of $253.37 million for the quarter, compared to analyst estimates of $246.78 million. During the same period last year, the business posted $0.16 earnings per share. The firm’s quarterly revenue was up 72.5% on a year-over-year basis. Analysts anticipate that Weibo Corporation will post $1.57 earnings per share for the current fiscal year.

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WB has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Weibo Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Jefferies Group LLC restated a “buy” rating and issued a $82.00 target price on shares of Weibo Corporation in a research report on Thursday, July 27th. T.H. Capital restated a “buy” rating and issued a $70.00 target price (up from $60.00) on shares of Weibo Corporation in a research report on Tuesday, May 9th. TheStreet upgraded Weibo Corporation from a “c” rating to a “b-” rating in a research report on Monday, April 17th. Finally, BidaskClub upgraded Weibo Corporation from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $78.61.

About Weibo Corporation

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

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