HWG Holdings LP Acquires New Stake in Weibo Corp (WB)
HWG Holdings LP acquired a new stake in shares of Weibo Corp (NASDAQ:WB) during the fourth quarter, HoldingsChannel reports. The fund acquired 27,706 shares of the information services provider’s stock, valued at approximately $2,866,000. Weibo accounts for 2.4% of HWG Holdings LP’s investment portfolio, making the stock its 10th biggest holding.
Other institutional investors also recently modified their holdings of the company. NEXT Financial Group Inc lifted its position in Weibo by 9,900.0% during the third quarter. NEXT Financial Group Inc now owns 1,000 shares of the information services provider’s stock valued at $100,000 after purchasing an additional 990 shares during the period. YorkBridge Wealth Partners LLC bought a new position in Weibo during the third quarter valued at approximately $105,000. Risk Paradigm Group LLC bought a new position in Weibo during the third quarter valued at approximately $109,000. Castleark Management LLC bought a new position in Weibo during the second quarter valued at approximately $110,000. Finally, Ipswich Investment Management Co. Inc. bought a new position in Weibo during the fourth quarter valued at approximately $208,000. Institutional investors own 21.95% of the company’s stock.
A number of research analysts recently weighed in on WB shares. Zacks Investment Research downgraded shares of Weibo from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. BidaskClub downgraded shares of Weibo from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Barclays increased their price target on shares of Weibo from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 14th. ValuEngine downgraded shares of Weibo from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Finally, Morgan Stanley assumed coverage on shares of Weibo in a research report on Friday, January 5th. They issued an “overweight” rating and a $130.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $104.85.
Weibo (NASDAQ:WB) last released its quarterly earnings results on Tuesday, November 7th. The information services provider reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.06. Weibo had a net margin of 26.85% and a return on equity of 30.00%. The business had revenue of $320.00 million for the quarter, compared to the consensus estimate of $297.20 million. During the same period last year, the firm earned $0.24 earnings per share. The company’s quarterly revenue was up 80.9% on a year-over-year basis. analysts predict that Weibo Corp will post 1.51 earnings per share for the current year.
Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.
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