Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Raises Position in Sina Corporation (SINA)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Sina Corporation (NASDAQ:SINA) by 10.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,500 shares of the technology company’s stock after acquiring an additional 500 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Sina Corporation were worth $631,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of Montreal Can boosted its holdings in Sina Corporation by 11.7% during the second quarter. Bank of Montreal Can now owns 1,452 shares of the technology company’s stock valued at $123,000 after purchasing an additional 152 shares in the last quarter. Cadence Capital Management LLC boosted its holdings in Sina Corporation by 1.6% during the second quarter. Cadence Capital Management LLC now owns 10,000 shares of the technology company’s stock valued at $850,000 after purchasing an additional 160 shares in the last quarter. Shell Asset Management Co. boosted its holdings in Sina Corporation by 0.6% during the second quarter. Shell Asset Management Co. now owns 32,249 shares of the technology company’s stock valued at $2,740,000 after purchasing an additional 198 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Sina Corporation by 11.0% during the first quarter. Nomura Asset Management Co. Ltd. now owns 2,330 shares of the technology company’s stock valued at $168,000 after purchasing an additional 230 shares in the last quarter. Finally, Navellier & Associates Inc boosted its holdings in Sina Corporation by 2.2% during the second quarter. Navellier & Associates Inc now owns 13,554 shares of the technology company’s stock valued at $1,152,000 after purchasing an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 68.47% of the company’s stock.

Sina Corporation (NASDAQ SINA) opened at $106.50 on Wednesday. The company has a market capitalization of $7,591.28, a P/E ratio of 72.71 and a beta of 1.03. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.04. Sina Corporation has a 1-year low of $60.46 and a 1-year high of $119.20.

Sina Corporation (NASDAQ:SINA) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.51 by $0.26. The business had revenue of $440.50 million for the quarter, compared to the consensus estimate of $404.71 million. Sina Corporation had a return on equity of 3.36% and a net margin of 9.41%. Sina Corporation’s revenue was up 60.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 EPS. research analysts anticipate that Sina Corporation will post 2.26 earnings per share for the current fiscal year.

A number of equities research analysts have weighed in on the company. Jefferies Group LLC reaffirmed a “buy” rating on shares of Sina Corporation in a report on Friday, August 11th. Benchmark Co. lifted their price objective on Sina Corporation from $142.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Zacks Investment Research downgraded Sina Corporation from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Citigroup Inc. lifted their price objective on Sina Corporation to $140.00 and gave the company a “buy” rating in a report on Thursday, August 10th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $119.00 price objective (up from $112.00) on shares of Sina Corporation in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $109.96.

COPYRIGHT VIOLATION WARNING: “Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Raises Position in Sina Corporation (SINA)” was posted by Markets Daily and is the property of of Markets Daily. If you are accessing this story on another site, it was illegally copied and republished in violation of international copyright law. The correct version of this story can be accessed at https://www.themarketsdaily.com/2017/11/15/mitsubishi-ufj-kokusai-asset-management-co-ltd-raises-position-in-sina-corporation-sina.html.

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.

Institutional Ownership by Quarter 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.

Latest News

Leave a Reply