Macquarie Group Ltd. lowered its position in Weibo Corp (NASDAQ:WB) by 0.9% in the second quarter, Holdings Channel reports. The fund owned 674,588 shares of the information services provider’s stock after selling 5,799 shares during the quarter. Macquarie Group Ltd.’s holdings in Weibo were worth $59,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. Mariner LLC lifted its stake in Weibo by 18.4% in the first quarter. Mariner LLC now owns 3,281 shares of the information services provider’s stock valued at $393,000 after acquiring an additional 509 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Weibo by 11.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,111 shares of the information services provider’s stock valued at $611,000 after acquiring an additional 511 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in Weibo by 8.2% in the first quarter. Xact Kapitalforvaltning AB now owns 7,943 shares of the information services provider’s stock valued at $950,000 after acquiring an additional 600 shares during the last quarter. BB&T Corp lifted its stake in Weibo by 6.7% in the second quarter. BB&T Corp now owns 10,670 shares of the information services provider’s stock valued at $947,000 after acquiring an additional 667 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in Weibo by 10.2% in the first quarter. Commonwealth Equity Services LLC now owns 7,376 shares of the information services provider’s stock valued at $881,000 after acquiring an additional 681 shares during the last quarter. Hedge funds and other institutional investors own 27.50% of the company’s stock.

NASDAQ WB opened at $69.32 on Thursday. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.61. The stock has a market cap of $15.20 billion, a PE ratio of 44.44 and a beta of 2.32. Weibo Corp has a 52-week low of $66.68 and a 52-week high of $142.12.

Weibo (NASDAQ:WB) last issued its quarterly earnings data on Wednesday, August 8th. The information services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.02. Weibo had a net margin of 32.03% and a return on equity of 37.75%. The business had revenue of $426.60 million during the quarter, compared to analysts’ expectations of $426.54 million. During the same quarter in the previous year, the company earned $0.38 EPS. The business’s revenue was up 68.4% on a year-over-year basis. equities research analysts expect that Weibo Corp will post 2.54 earnings per share for the current year.

A number of research firms have recently issued reports on WB. BNP Paribas began coverage on shares of Weibo in a research note on Thursday, June 14th. They set a “hold” rating for the company. BidaskClub upgraded shares of Weibo from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 6th. ValuEngine cut shares of Weibo from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 16th. Zacks Investment Research cut shares of Weibo from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. Finally, Jefferies Financial Group restated a “buy” rating and set a $145.00 target price on shares of Weibo in a research note on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $131.00.

Weibo Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates through two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.

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Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

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