Bank of New York Mellon Corp Has $7.81 Million Position in SINA Corp (SINA)
Bank of New York Mellon Corp decreased its position in SINA Corp (NASDAQ:SINA) by 9.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,161 shares of the technology company’s stock after selling 6,704 shares during the quarter. Bank of New York Mellon Corp owned 0.10% of SINA worth $7,814,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Platinum Investment Management Ltd. increased its holdings in shares of SINA by 14.9% in the 2nd quarter. Platinum Investment Management Ltd. now owns 3,348,101 shares of the technology company’s stock valued at $284,488,000 after acquiring an additional 435,220 shares during the period. Koch Industries Inc. acquired a new position in shares of SINA in the 2nd quarter valued at $1,385,000. State of Wisconsin Investment Board increased its holdings in shares of SINA by 79.4% in the 3rd quarter. State of Wisconsin Investment Board now owns 747,500 shares of the technology company’s stock valued at $85,701,000 after acquiring an additional 330,800 shares during the period. Renaissance Technologies LLC acquired a new position in shares of SINA in the 2nd quarter valued at $52,605,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of SINA by 39.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 573,821 shares of the technology company’s stock valued at $48,757,000 after acquiring an additional 161,424 shares during the period. 69.26% of the stock is currently owned by institutional investors.
SINA has been the topic of a number of recent research reports. Benchmark lifted their target price on shares of SINA from $142.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Zacks Investment Research lowered shares of SINA from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Finally, BidaskClub lowered shares of SINA from a “hold” rating to a “sell” rating in a research report on Saturday, December 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. SINA presently has a consensus rating of “Buy” and a consensus target price of $120.67.
SINA Corp (NASDAQ:SINA) opened at $104.06 on Thursday. SINA Corp has a 1 year low of $60.46 and a 1 year high of $119.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.68 and a quick ratio of 2.68. The firm has a market cap of $7,380.00, a price-to-earnings ratio of 59.13 and a beta of 0.98.
SINA (NASDAQ:SINA) last posted its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.26. The firm had revenue of $440.50 million for the quarter, compared to analyst estimates of $404.71 million. SINA had a net margin of 9.41% and a return on equity of 3.36%. SINA’s quarterly revenue was up 60.2% on a year-over-year basis. During the same period last year, the firm posted $0.56 EPS. equities analysts anticipate that SINA Corp will post 2.13 earnings per share for the current year.
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.
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