Weibo (WB) Shares Down 1.4%
Shares of Weibo Corp (NASDAQ:WB) fell 1.4% during mid-day trading on Thursday . The stock traded as low as $56.44 and last traded at $55.71. 274,424 shares traded hands during trading, a decline of 88% from the average session volume of 2,211,846 shares. The stock had previously closed at $56.50.
Several research firms have issued reports on WB. BidaskClub lowered Weibo from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. ValuEngine lowered Weibo from a “sell” rating to a “strong sell” rating in a report on Thursday. Jefferies Financial Group reissued a “buy” rating and set a $145.00 price target on shares of Weibo in a report on Tuesday, July 24th. OTR Global began coverage on Weibo in a report on Monday, August 6th. They set a “positive” rating for the company. Finally, Zacks Investment Research lowered Weibo from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $131.71.
The company has a market capitalization of $16.18 billion, a price-to-earnings ratio of 38.23 and a beta of 2.33. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.97 and a quick ratio of 3.97.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC bought a new position in Weibo during the second quarter valued at approximately $101,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Weibo by 43.8% during the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the information services provider’s stock valued at $204,000 after buying an additional 700 shares during the last quarter. BB&T Securities LLC bought a new position in Weibo during the first quarter valued at approximately $284,000. AdvisorNet Financial Inc boosted its stake in Weibo by 2,580.0% during the second quarter. AdvisorNet Financial Inc now owns 2,680 shares of the information services provider’s stock valued at $238,000 after buying an additional 2,580 shares during the last quarter. Finally, Yorktown Management & Research Co Inc bought a new position in Weibo during the second quarter valued at approximately $240,000. 27.49% of the stock is owned by hedge funds and other institutional investors.
Weibo Company Profile (NASDAQ:WB)
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates through 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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