Renaissance Technologies LLC Sells 287,552 Shares of Weibo Co. (NASDAQ:WB)

Renaissance Technologies LLC decreased its holdings in shares of Weibo Co. (NASDAQ:WB - Free Report) by 72.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,600 shares of the information services provider's stock after selling 287,552 shares during the quarter. Renaissance Technologies LLC's holdings in Weibo were worth $834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Deltec Asset Management LLC purchased a new position in shares of Weibo during the 2nd quarter valued at $82,000. Bayesian Capital Management LP purchased a new position in shares of Weibo during the 1st quarter valued at $123,000. XY Capital Ltd purchased a new position in shares of Weibo during the 1st quarter valued at $140,000. SG Americas Securities LLC grew its position in shares of Weibo by 21.5% during the 2nd quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider's stock valued at $397,000 after purchasing an additional 9,143 shares in the last quarter. Finally, DGS Capital Management LLC grew its position in shares of Weibo by 92.7% during the 1st quarter. DGS Capital Management LLC now owns 44,543 shares of the information services provider's stock valued at $405,000 after purchasing an additional 21,422 shares in the last quarter. Institutional investors own 68.77% of the company's stock.

Weibo Trading Down 12.4 %

WB stock traded down $1.45 during trading on Tuesday, reaching $10.26. The company had a trading volume of 4,687,818 shares, compared to its average volume of 2,101,639. Weibo Co. has a 52 week low of $7.03 and a 52 week high of $13.54. The company has a market cap of $2.40 billion, a P/E ratio of 8.93, a PEG ratio of 1.96 and a beta of 0.23. The business has a 50 day moving average of $8.14 and a 200 day moving average of $8.42. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.34 and a quick ratio of 2.34.

Weibo (NASDAQ:WB - Get Free Report) last released its quarterly earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.10. The company had revenue of $437.90 million during the quarter, compared to the consensus estimate of $437.97 million. Weibo had a net margin of 18.52% and a return on equity of 11.01%. Weibo's revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. As a group, sell-side analysts forecast that Weibo Co. will post 1.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WB has been the subject of several research reports. Morgan Stanley cut their target price on shares of Weibo from $8.00 to $7.50 and set an "underweight" rating for the company in a research report on Friday, August 23rd. Nomura Securities upgraded shares of Weibo to a "hold" rating in a research report on Monday, August 26th. Finally, Citigroup upped their target price on shares of Weibo from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $10.23.

Weibo 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.