Koch Industries Inc. acquired a new position in shares of Sina Corporation (NASDAQ:SINA) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,401,396 shares of the technology company’s stock, valued at approximately $1,385,000. Sina Corporation accounts for approximately 0.4% of Koch Industries Inc.’s portfolio, making the stock its 14th biggest position. Koch Industries Inc. owned 1.97% of Sina Corporation as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. 1st Global Advisors Inc. purchased a new stake in shares of Sina Corporation during the second quarter worth $443,000. Verition Fund Management LLC purchased a new stake in shares of Sina Corporation during the second quarter worth $205,000. Nomura Holdings Inc. increased its position in shares of Sina Corporation by 28.1% during the second quarter. Nomura Holdings Inc. now owns 5,781 shares of the technology company’s stock worth $491,000 after acquiring an additional 1,267 shares during the period. Platinum Investment Management Ltd. increased its position in shares of Sina Corporation by 14.9% during the second quarter. Platinum Investment Management Ltd. now owns 3,348,101 shares of the technology company’s stock worth $284,488,000 after acquiring an additional 435,220 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Sina Corporation by 39.1% during the second quarter. The Manufacturers Life Insurance Company now owns 573,821 shares of the technology company’s stock worth $48,757,000 after acquiring an additional 161,424 shares during the period. 66.91% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on SINA shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $122.00 price objective on shares of Sina Corporation in a research report on Friday, July 14th. Bank of America Corporation reaffirmed a “buy” rating and set a $119.00 price objective (up previously from $112.00) on shares of Sina Corporation in a research report on Thursday, August 10th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Sina Corporation in a research report on Friday, June 23rd. Zacks Investment Research lowered Sina Corporation from a “hold” rating to a “strong sell” rating in a research report on Monday, August 14th. Finally, Citigroup Inc. upped their price objective on Sina Corporation to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Sina Corporation currently has a consensus rating of “Buy” and an average target price of $104.08.
WARNING: This piece was posted by Markets Daily and is the property of of Markets Daily. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this piece can be accessed at https://www.themarketsdaily.com/2017/10/13/koch-industries-inc-takes-1-39-million-position-in-sina-corporation-sina.html.
Sina Corporation (NASDAQ SINA) traded up 1.84% during trading on Friday, reaching $117.07. The company had a trading volume of 417,992 shares. The stock has a 50 day moving average price of $111.74 and a 200-day moving average price of $93.39. Sina Corporation has a 52-week low of $60.46 and a 52-week high of $119.20. The company has a market capitalization of $8.33 billion, a PE ratio of 38.33 and a beta of 1.16.
Sina Corporation (NASDAQ:SINA) last issued its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.27. Sina Corporation had a net margin of 18.64% and a return on equity of 6.58%. The firm had revenue of $358.93 million for the quarter, compared to analyst estimates of $344.23 million. During the same quarter in the previous year, the business posted $0.27 EPS. The firm’s revenue was up 47.1% compared to the same quarter last year. On average, equities research analysts anticipate that Sina Corporation will post $2.92 earnings per share for the current fiscal year.
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.
Want to see what other hedge funds are holding SINA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sina Corporation (NASDAQ:SINA).
Receive News & Ratings for Sina Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sina Corporation and related companies with MarketBeat.com's FREE daily email newsletter.