KLP Kapitalforvaltning AS Purchases Shares of 44,100 Weibo Co. (NASDAQ:WB)

KLP Kapitalforvaltning AS purchased a new stake in shares of Weibo Co. (NASDAQ:WB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 44,100 shares of the information services provider's stock, valued at approximately $421,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its stake in Weibo by 5.9% during the 4th quarter. American Century Companies Inc. now owns 376,820 shares of the information services provider's stock valued at $3,599,000 after acquiring an additional 20,868 shares during the period. Virtu Financial LLC bought a new position in Weibo during the fourth quarter valued at approximately $117,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Weibo by 10.0% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 300,807 shares of the information services provider's stock worth $2,873,000 after purchasing an additional 27,323 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Weibo by 525.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,960 shares of the information services provider's stock worth $792,000 after purchasing an additional 69,699 shares during the period. Finally, E Fund Management Co. Ltd. raised its stake in Weibo by 1,003.7% during the 4th quarter. E Fund Management Co. Ltd. now owns 458,206 shares of the information services provider's stock valued at $4,376,000 after buying an additional 416,690 shares during the last quarter. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

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Weibo Stock Performance

Shares of NASDAQ WB traded down $0.57 during midday trading on Friday, hitting $8.60. 2,686,021 shares of the stock traded hands, compared to its average volume of 1,782,510. The firm has a 50-day moving average of $10.34 and a two-hundred day moving average of $9.75. The firm has a market capitalization of $2.09 billion, a P/E ratio of 5.89 and a beta of 0.12. Weibo Co. has a one year low of $7.03 and a one year high of $12.40. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.57 and a current ratio of 3.57.

Weibo Dividend Announcement

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

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.