Millennium Management LLC Boosts Stake in Weibo Co. (NASDAQ:WB)

Millennium Management LLC lifted its holdings in Weibo Co. (NASDAQ:WB - Free Report) by 56.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 726,940 shares of the information services provider's stock after purchasing an additional 261,180 shares during the period. Millennium Management LLC owned about 0.31% of Weibo worth $5,583,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of WB. Goldman Sachs Group Inc. boosted its stake in Weibo by 199.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,075,326 shares of the information services provider's stock valued at $33,675,000 after acquiring an additional 2,047,135 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Weibo in the second quarter worth about $1,398,000. Krane Funds Advisors LLC grew its stake in shares of Weibo by 17.4% during the second quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider's stock worth $29,213,000 after acquiring an additional 564,068 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Weibo by 65.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,025 shares of the information services provider's stock valued at $1,082,000 after acquiring an additional 46,898 shares in the last quarter. Finally, Quadrature Capital Ltd raised its position in shares of Weibo by 47.8% in the 4th quarter. Quadrature Capital Ltd now owns 48,602 shares of the information services provider's stock valued at $531,000 after purchasing an additional 15,715 shares during the last quarter. Hedge funds and other institutional investors own 68.77% of the company's stock.

Weibo Price Performance

NASDAQ WB traded down $0.01 on Friday, hitting $10.19. The company had a trading volume of 1,329,719 shares, compared to its average volume of 3,565,567. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.34 and a quick ratio of 2.34. The company has a market capitalization of $2.39 billion, a PE ratio of 7.96, a PEG ratio of 1.72 and a beta of 0.23. Weibo Co. has a 12-month low of $7.03 and a 12-month high of $13.22. The company's fifty day moving average price is $8.34 and its 200-day moving average price is $8.46.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on WB shares. Citigroup upped their target price on Weibo from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Morgan Stanley cut their price objective on Weibo from $8.00 to $7.50 and set an "underweight" rating on the stock in a report on Friday, August 23rd. Nomura Securities raised Weibo to a "hold" rating in a report on Monday, August 26th. Finally, StockNews.com upgraded shares of Weibo from a "hold" rating to a "buy" rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus 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.