Bellecapital International Ltd. grew its holdings in Weibo Corp (NASDAQ:WB) by 29.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,465 shares of the information services provider’s stock after buying an additional 2,620 shares during the quarter. Bellecapital International Ltd.’s holdings in Weibo were worth $499,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. grew its stake in shares of Weibo by 675,525.0% during the second quarter. Bessemer Group Inc. now owns 108,100 shares of the information services provider’s stock valued at $4,708,000 after buying an additional 108,084 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Weibo by 45.8% in the second quarter. Commonwealth Equity Services LLC now owns 5,344 shares of the information services provider’s stock valued at $232,000 after purchasing an additional 1,678 shares during the period. NN Investment Partners Holdings N.V. boosted its holdings in shares of Weibo by 48.1% in the second quarter. NN Investment Partners Holdings N.V. now owns 4,000 shares of the information services provider’s stock valued at $174,000 after purchasing an additional 1,300 shares during the period. Exane Derivatives boosted its holdings in shares of Weibo by 145.3% in the second quarter. Exane Derivatives now owns 8,673 shares of the information services provider’s stock valued at $378,000 after purchasing an additional 5,137 shares during the period. Finally, Hexavest Inc. purchased a new stake in shares of Weibo in the second quarter valued at approximately $1,226,000. Institutional investors and hedge funds own 24.74% of the company’s stock.
A number of analysts recently issued reports on WB shares. Benchmark reiterated a “buy” rating and issued a $51.00 price target (down previously from $81.00) on shares of Weibo in a report on Friday, May 24th. Jefferies Financial Group started coverage on Weibo in a report on Monday, August 5th. They issued a “hold” rating and a $43.60 price target for the company. HSBC lowered Weibo from a “hold” rating to a “reduce” rating and set a $45.54 price target for the company. in a report on Friday, May 24th. BidaskClub lowered Weibo from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 22nd. Finally, Credit Suisse Group lowered Weibo from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 16th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. Weibo currently has a consensus rating of “Hold” and a consensus price target of $60.46.
Weibo (NASDAQ:WB) last announced its quarterly earnings results on Thursday, May 23rd. The information services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.06. The company had revenue of $399.18 million for the quarter, compared to the consensus estimate of $399.65 million. Weibo had a return on equity of 37.16% and a net margin of 35.25%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $0.50 EPS. Research analysts expect that Weibo Corp will post 2.44 earnings per share for the current year.
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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