Long Corridor Asset Management Ltd Reduces Holdings in Weibo Co. (NASDAQ:WB)

Long Corridor Asset Management Ltd reduced its position in Weibo Co. (NASDAQ:WB - Free Report) by 65.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 318,555 shares of the information services provider's stock after selling 606,349 shares during the period. Weibo comprises about 2.3% of Long Corridor Asset Management Ltd's portfolio, making the stock its 14th biggest holding. Long Corridor Asset Management Ltd owned about 0.13% of Weibo worth $3,042,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in Weibo by 155.2% during the fourth quarter. Blue Trust Inc. now owns 2,700 shares of the information services provider's stock valued at $27,000 after purchasing an additional 1,642 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Weibo during the 4th quarter worth about $70,000. Virtu Financial LLC purchased a new position in Weibo in the 4th quarter valued at about $117,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Weibo by 17.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider's stock worth $134,000 after buying an additional 1,970 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new stake in Weibo during the 4th quarter worth approximately $167,000. 68.77% of the stock is owned by hedge funds and other institutional investors.

Weibo Price Performance

WB traded down $0.62 on Friday, reaching $9.39. 2,138,600 shares of the company's stock were exchanged, compared to its average volume of 1,781,401. Weibo Co. has a twelve month low of $7.03 and a twelve month high of $12.40. The stock has a market cap of $2.28 billion, a PE ratio of 6.43 and a beta of 0.27. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.57 and a quick ratio of 3.57. The stock's fifty day moving average price is $10.38 and its 200-day moving average price is $9.68.

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Weibo Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Weibo from a "hold" rating to a "buy" rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Weibo currently has a consensus rating of "Hold" and a consensus price target of $9.75.

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.