Krane Funds Advisors LLC Cuts Position in Weibo Corporation $WB

Krane Funds Advisors LLC reduced its position in Weibo Corporation (NASDAQ:WB) by 8.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,274,081 shares of the information services provider’s stock after selling 401,982 shares during the quarter. Weibo accounts for about 1.4% of Krane Funds Advisors LLC’s holdings, making the stock its 13th largest holding. Krane Funds Advisors LLC owned approximately 1.75% of Weibo worth $43,681,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Causeway Capital Management LLC grew its position in Weibo by 11.7% during the third quarter. Causeway Capital Management LLC now owns 2,952,249 shares of the information services provider’s stock valued at $36,608,000 after acquiring an additional 308,531 shares during the last quarter. UBS Group AG raised its position in Weibo by 15.9% in the 4th quarter. UBS Group AG now owns 1,596,371 shares of the information services provider’s stock worth $16,315,000 after purchasing an additional 218,666 shares during the period. Wellington Management Group LLP lifted its stake in Weibo by 26.0% in the third quarter. Wellington Management Group LLP now owns 1,155,576 shares of the information services provider’s stock worth $14,329,000 after purchasing an additional 238,120 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its position in Weibo by 99.8% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,045,801 shares of the information services provider’s stock valued at $12,968,000 after buying an additional 522,400 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Weibo by 497.1% in the second quarter. JPMorgan Chase & Co. now owns 720,348 shares of the information services provider’s stock worth $6,865,000 after buying an additional 599,700 shares during the period. 68.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $9.80 price target on shares of Weibo in a research note on Thursday, May 28th. Weiss Ratings lowered shares of Weibo from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.90.

Weibo Price Performance

Shares of NASDAQ WB opened at $7.70 on Monday. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 5.38, a PEG ratio of 4.04 and a beta of 0.20. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.02 and a current ratio of 3.02. Weibo Corporation has a fifty-two week low of $7.68 and a fifty-two week high of $12.96. The firm’s 50-day simple moving average is $8.43 and its 200 day simple moving average is $9.53.

Weibo (NASDAQ:WB) last issued its quarterly earnings data on Thursday, May 28th. The information services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). Weibo had a net margin of 21.15% and a return on equity of 9.90%. The company had revenue of $421.33 million for the quarter, compared to the consensus estimate of $416.76 million. During the same quarter last year, the business posted $0.45 earnings per share. Weibo’s revenue was up 6.1% on a year-over-year basis. As a group, research analysts anticipate that Weibo Corporation will post 1.45 earnings per share for the current fiscal year.

Weibo Cuts Dividend

The firm also recently declared an annual dividend, which was paid on Friday, May 22nd. Investors of record on Friday, April 17th were given a dividend of $0.61 per share. This represents a dividend yield of 690.0%. The ex-dividend date of this dividend was Friday, April 17th. Weibo’s dividend payout ratio (DPR) is presently 41.26%.

Weibo Company Profile

Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.

Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.