Korea Investment CORP Takes Position in Weibo Corp (NASDAQ:WB)
Korea Investment CORP bought a new stake in shares of Weibo Corp (NASDAQ:WB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,000 shares of the information services provider’s stock, valued at approximately $232,000.
Several other institutional investors have also made changes to their positions in the stock. Voya Investment Management LLC boosted its position in shares of Weibo by 5.0% during the 3rd quarter. Voya Investment Management LLC now owns 5,641 shares of the information services provider’s stock worth $252,000 after purchasing an additional 269 shares in the last quarter. CWM LLC increased its position in Weibo by 3,272.2% in the 4th quarter. CWM LLC now owns 607 shares of the information services provider’s stock valued at $28,000 after buying an additional 589 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Weibo during the 3rd quarter worth approximately $55,000. CenterStar Asset Management LLC acquired a new position in Weibo during the 4th quarter worth approximately $62,000. Finally, First Trust Advisors LP boosted its holdings in Weibo by 11.8% in the fourth quarter. First Trust Advisors LP now owns 16,931 shares of the information services provider’s stock worth $785,000 after acquiring an additional 1,792 shares in the last quarter. Institutional investors own 25.70% of the company’s stock.
WB has been the subject of a number of research reports. Credit Suisse Group cut Weibo from an “outperform” rating to a “neutral” rating in a research note on Thursday, November 14th. ValuEngine lowered Weibo from a “buy” rating to a “hold” rating in a research report on Tuesday. Barclays cut their target price on Weibo from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. BidaskClub raised shares of Weibo from a “strong sell” rating to a “sell” rating in a research report on Friday. Finally, Benchmark decreased their price target on shares of Weibo from $51.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $49.38.
WB stock opened at $41.96 on Friday. The company has a market capitalization of $9.44 billion, a P/E ratio of 19.25 and a beta of 1.97. The company has a debt-to-equity ratio of 0.74, a quick ratio of 4.51 and a current ratio of 4.54. Weibo Corp has a 52-week low of $34.26 and a 52-week high of $72.78. The business has a 50-day simple moving average of $43.75 and a two-hundred day simple moving average of $45.75.
Weibo (NASDAQ:WB) last issued its quarterly earnings data on Wednesday, February 26th. The information services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.66 by $0.11. Weibo had a return on equity of 23.63% and a net margin of 28.00%. The firm had revenue of $468.10 million during the quarter, compared to the consensus estimate of $469.99 million. During the same period in the prior year, the business posted $0.80 earnings per share. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Weibo Corp will post 2.08 earnings per share for the current fiscal year.
Weibo Profile
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates in two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.
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