Ghisallo Capital Management LLC Invests $4.52 Million in Weibo Co. (NASDAQ:WB)

Ghisallo Capital Management LLC purchased a new stake in Weibo Co. (NASDAQ:WB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 412,896 shares of the information services provider's stock, valued at approximately $4,521,000. Ghisallo Capital Management LLC owned approximately 0.18% of Weibo at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Truist Financial Corp acquired a new stake in Weibo in the fourth quarter worth about $117,000. Profund Advisors LLC acquired a new stake in Weibo in the third quarter worth about $133,000. abrdn plc increased its position in Weibo by 59.4% in the fourth quarter. abrdn plc now owns 18,665 shares of the information services provider's stock worth $204,000 after purchasing an additional 6,955 shares during the period. DGS Capital Management LLC increased its position in Weibo by 42.1% in the fourth quarter. DGS Capital Management LLC now owns 23,121 shares of the information services provider's stock worth $253,000 after purchasing an additional 6,850 shares during the period. Finally, Quantbot Technologies LP grew its position in shares of Weibo by 353.7% during the 3rd quarter. Quantbot Technologies LP now owns 21,500 shares of the information services provider's stock worth $270,000 after buying an additional 16,761 shares during the period. Institutional investors and hedge funds own 68.77% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WB shares. UBS Group upgraded Weibo from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $12.90 to $11.50 in a research report on Tuesday, March 19th. The Goldman Sachs Group restated a "neutral" rating and set a $10.60 target price on shares of Weibo in a research report on Thursday, March 28th. Morgan Stanley lowered Weibo from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $11.00 to $10.00 in a research report on Friday, May 17th. Finally, HSBC decreased their target price on Weibo from $13.60 to $9.80 and set a "hold" rating for the company in a research report on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $11.65.

Weibo Stock Up 4.1 %

Shares of WB traded up $0.33 on Monday, hitting $8.41. The company's stock had a trading volume of 1,666,667 shares, compared to its average volume of 2,224,619. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.57. The firm's fifty day moving average price is $8.84 and its 200-day moving average price is $9.24. Weibo Co. has a fifty-two week low of $7.58 and a fifty-two week high of $16.02. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 7.07, a P/E/G ratio of 1.36 and a beta of 0.24.

Weibo (NASDAQ:WB - Get Free Report) last released its earnings results on Thursday, March 14th. The information services provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.14). The firm had revenue of $463.67 million during the quarter, compared to the consensus estimate of $452.30 million. Weibo had a net margin of 16.74% and a return on equity of 10.92%. On average, equities research analysts expect that Weibo Co. will post 1.48 EPS for the current year.

Weibo Cuts Dividend

The company also recently announced a -- dividend, which was paid on Monday, May 13th. Shareholders of record on Friday, April 12th were paid a $0.80 dividend. The ex-dividend date 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.