Connor Clark & Lunn Investment Management Ltd. Has $792,000 Holdings in Weibo Co. (NASDAQ:WB)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Weibo Co. (NASDAQ:WB - Free Report) by 525.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,960 shares of the information services provider's stock after purchasing an additional 69,699 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Weibo were worth $792,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WB. Citigroup Inc. raised its position in Weibo by 347.3% in the 3rd quarter. Citigroup Inc. now owns 602,853 shares of the information services provider's stock valued at $6,077,000 after purchasing an additional 468,072 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Weibo in the third quarter valued at about $318,000. BNP Paribas Financial Markets lifted its position in Weibo by 98.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 83,106 shares of the information services provider's stock worth $838,000 after buying an additional 41,137 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Weibo by 60.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 282,199 shares of the information services provider's stock worth $2,845,000 after acquiring an additional 105,780 shares during the last quarter. Finally, Quadrature Capital Ltd raised its stake in shares of Weibo by 22.8% in the third quarter. Quadrature Capital Ltd now owns 40,464 shares of the information services provider's stock worth $408,000 after acquiring an additional 7,508 shares during the last quarter. 68.77% of the stock is owned by institutional investors.

Remove Ads

Weibo Trading Down 2.7 %

NASDAQ WB traded down $0.28 on Tuesday, reaching $9.91. The company had a trading volume of 1,836,737 shares, compared to its average volume of 1,776,741. Weibo Co. has a 52 week low of $7.03 and a 52 week high of $12.40. The stock's 50 day moving average is $10.35 and its 200-day moving average is $9.63. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 6.79 and a beta of 0.27.

Weibo Announces Dividend

The company also recently disclosed an annual dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 9th will be paid a dividend of $0.82 per share. This represents a yield of 7.77%. The ex-dividend date of this dividend is Wednesday, April 9th. Weibo's payout ratio is 68.97%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Weibo from a "hold" rating to a "buy" rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $10.03.

Weibo Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute 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.