Truist Financial Corp acquired a new position in shares of Weibo Co. (NASDAQ:WB – Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 10,698 shares of the information services provider’s stock, valued at approximately $117,000.
A number of other hedge funds also recently added to or reduced their stakes in the stock. abrdn plc lifted its holdings in shares of Weibo by 7.6% in the 3rd quarter. abrdn plc now owns 11,710 shares of the information services provider’s stock valued at $147,000 after buying an additional 829 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Weibo by 0.8% in the 3rd quarter. California Public Employees Retirement System now owns 126,938 shares of the information services provider’s stock valued at $1,592,000 after buying an additional 1,026 shares during the period. Aviva PLC lifted its holdings in shares of Weibo by 6.8% in the 3rd quarter. Aviva PLC now owns 47,259 shares of the information services provider’s stock valued at $593,000 after buying an additional 3,000 shares during the period. Deutsche Bank AG lifted its holdings in shares of Weibo by 2.1% in the 3rd quarter. Deutsche Bank AG now owns 158,145 shares of the information services provider’s stock valued at $1,983,000 after buying an additional 3,267 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in shares of Weibo by 5.7% in the 4th quarter. New York State Common Retirement Fund now owns 61,627 shares of the information services provider’s stock valued at $675,000 after buying an additional 3,338 shares during the period. 68.77% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have recently commented on the company. Morgan Stanley cut Weibo from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $11.00 to $10.00 in a report on Friday, May 17th. HSBC dropped their price objective on Weibo from $13.60 to $9.80 and set a “hold” rating for the company in a research note on Friday, March 15th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $10.60 price objective on shares of Weibo in a research note on Thursday, March 28th. Finally, UBS Group raised Weibo from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $12.90 to $11.50 in a research note on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Weibo presently has a consensus rating of “Hold” and a consensus price target of $11.65.
Check Out Our Latest Stock Analysis on Weibo
Weibo Stock Performance
Weibo stock opened at $8.87 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.51 and a current ratio of 2.51. The stock has a fifty day moving average of $9.01 and a two-hundred day moving average of $9.55. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 6.25, a PEG ratio of 1.51 and a beta of 0.40. Weibo Co. has a fifty-two week low of $7.58 and a fifty-two week high of $16.97.
Weibo (NASDAQ:WB – Get Free Report) last released its quarterly earnings results on Thursday, March 14th. The information services provider reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.14). The company had revenue of $463.67 million for the quarter, compared to analysts’ expectations of $452.30 million. Weibo had a return on equity of 10.77% and a net margin of 19.47%. On average, analysts anticipate that Weibo Co. will post 1.54 EPS for the current fiscal year.
Weibo Cuts Dividend
The business also recently declared a — dividend, which was paid on Monday, May 13th. Shareholders of record on Friday, April 12th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, April 11th.
Weibo Company Profile
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover content in the People’s Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.
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Source: defenseworld.net
