KEYWISE CAPITAL MANAGEMENT Ltd purchased a new position in Sina Corporation (NASDAQ:SINA) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,900 shares of the technology company’s stock, valued at approximately $498,000. Sina Corporation makes up 0.3% of KEYWISE CAPITAL MANAGEMENT Ltd’s holdings, making the stock its 15th largest position.
Several other institutional investors also recently added to or reduced their stakes in SINA. Airain ltd raised its position in Sina Corporation by 99.2% in the first quarter. Airain ltd now owns 72,575 shares of the technology company’s stock worth $5,234,000 after buying an additional 36,142 shares in the last quarter. TT International purchased a new stake in shares of Sina Corporation during the third quarter worth approximately $2,620,000. First Trust Advisors LP increased its stake in shares of Sina Corporation by 40.5% in the first quarter. First Trust Advisors LP now owns 53,655 shares of the technology company’s stock worth $3,870,000 after buying an additional 15,463 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Sina Corporation by 50.5% in the fourth quarter. AQR Capital Management LLC now owns 48,056 shares of the technology company’s stock worth $2,921,000 after buying an additional 16,125 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Sina Corporation by 1.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 91,525 shares of the technology company’s stock worth $6,601,000 after buying an additional 972 shares during the last quarter. 65.95% of the stock is currently owned by hedge funds and other institutional investors.
Sina Corporation (NASDAQ SINA) traded down 0.44% during mid-day trading on Friday, reaching $85.91. 996,196 shares of the company’s stock traded hands. Sina Corporation has a 52-week low of $48.09 and a 52-week high of $105.99. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 26.24 and a beta of 1.15. The company has a 50-day moving average of $89.97 and a 200-day moving average of $75.25.
Sina Corporation (NASDAQ:SINA) last released its quarterly earnings data on Tuesday, May 16th. The technology company reported $0.50 earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.78. Sina Corporation had a net margin of 22.36% and a return on equity of 6.19%. The business had revenue of $278.10 million for the quarter, compared to analyst estimates of $267.14 million. During the same quarter last year, the firm earned ($0.04) EPS. Sina Corporation’s quarterly revenue was up 40.0% compared to the same quarter last year. Equities research analysts expect that Sina Corporation will post $2.68 EPS for the current year.
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A number of brokerages recently commented on SINA. Jefferies Group LLC restated a “buy” rating and issued a $122.00 price objective on shares of Sina Corporation in a research report on Tuesday, May 30th. T.H. Capital lifted their price target on shares of Sina Corporation from $62.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, May 12th. Zacks Investment Research upgraded shares of Sina Corporation from a “hold” rating to a “strong-buy” rating and set a $83.00 price target for the company in a research report on Monday, February 27th. Stifel Nicolaus reiterated a “hold” rating and set a $92.00 price target (up from $74.00) on shares of Sina Corporation in a research report on Wednesday, May 17th. Finally, Benchmark Co. assumed coverage on shares of Sina Corporation in a research report on Tuesday, April 18th. They set a “buy” rating and a $110.00 price target for the company. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $90.71.
Sina Corporation Company Profile
Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.
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