Saba Capital Management L.P. Raises Holdings in Weibo Co. (NASDAQ:WB)

Saba Capital Management L.P. increased its position in Weibo Co. (NASDAQ:WB) by 5.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,359,357 shares of the information services provider’s stock after buying an additional 131,155 shares during the period. Saba Capital Management L.P.’s holdings in Weibo were worth $22,532,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Barclays PLC grew its stake in Weibo by 13.8% in the third quarter. Barclays PLC now owns 212,919 shares of the information services provider’s stock worth $2,146,000 after purchasing an additional 25,750 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Weibo in the fourth quarter valued at $70,000. Blue Trust Inc. grew its position in Weibo by 155.2% during the 4th quarter. Blue Trust Inc. now owns 2,700 shares of the information services provider’s stock worth $27,000 after purchasing an additional 1,642 shares in the last quarter. Caprock Group LLC purchased a new position in Weibo during the 4th quarter worth approximately $229,000. Finally, Polunin Capital Partners Ltd grew its holdings in shares of Weibo by 14.6% during the 4th quarter. Polunin Capital Partners Ltd now owns 575,750 shares of the information services provider’s stock valued at $5,600,000 after acquiring an additional 73,412 shares in the last quarter. 68.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Weibo from a “buy” rating to a “hold” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.75.

Weibo Stock Up 0.6%

Weibo stock opened at $8.50 on Friday. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 5.82 and a beta of 0.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.57 and a quick ratio of 3.57. Weibo Co. has a fifty-two week low of $7.03 and a fifty-two week high of $12.40. The firm has a fifty day moving average price of $8.78 and a two-hundred day moving average price of $9.44.

Weibo Dividend Announcement

The business also recently disclosed an annual dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 9th were given a dividend of $0.82 per share. This represents a dividend yield of 7.77%. The ex-dividend date was Wednesday, April 9th. Weibo’s dividend payout ratio is currently 68.97%.

Weibo Company Profile

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