Handelsbanken Fonder AB Trims Position in SINA Corp (SINA)
Handelsbanken Fonder AB lowered its stake in shares of SINA Corp (NASDAQ:SINA) by 15.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 82,500 shares of the technology company’s stock after selling 15,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in SINA were worth $5,732,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Aperio Group LLC grew its position in SINA by 55.0% during the third quarter. Aperio Group LLC now owns 44,892 shares of the technology company’s stock valued at $3,119,000 after buying an additional 15,922 shares during the period. Andra AP fonden lifted its holdings in SINA by 48.5% during the third quarter. Andra AP fonden now owns 80,500 shares of the technology company’s stock valued at $5,593,000 after purchasing an additional 26,300 shares during the last quarter. First Hawaiian Bank purchased a new stake in SINA during the third quarter valued at about $125,000. State of New Jersey Common Pension Fund D lifted its holdings in SINA by 83.8% during the third quarter. State of New Jersey Common Pension Fund D now owns 35,475 shares of the technology company’s stock valued at $2,465,000 after purchasing an additional 16,179 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD purchased a new stake in SINA during the third quarter valued at about $244,000. Institutional investors own 67.00% of the company’s stock.
Several research firms have commented on SINA. Jefferies Financial Group reaffirmed a “buy” rating and set a $144.00 price objective on shares of SINA in a report on Thursday, July 26th. BidaskClub downgraded shares of SINA from a “sell” rating to a “strong sell” rating in a report on Thursday, July 12th. Zacks Investment Research raised shares of SINA from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Monday, July 30th. JPMorgan Chase & Co. began coverage on shares of SINA in a report on Wednesday, August 29th. They set an “overweight” rating and a $150.00 price objective on the stock. Finally, ValuEngine downgraded shares of SINA from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 7th. Three investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $135.00.
SINA (NASDAQ:SINA) last released its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.39. The business had revenue of $537.36 million for the quarter, compared to the consensus estimate of $538.10 million. SINA had a net margin of 8.23% and a return on equity of 4.39%. The company’s revenue was up 49.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 earnings per share. On average, analysts anticipate that SINA Corp will post 2.26 earnings per share for the current fiscal year.
SINA Company Profile
SINA Corporation, through its subsidiaries, operates as an online media company in the People's Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including multimedia news; business news coverage and personal finance columns; sporting events news; automobile-related news; entertainment news and events; technology updates; interactive video products, such as news, sports, and entertainment; and education, digital, fashion, luxury, health, collectibles, travel, and other interest-based channels.
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