Norges Bank Invests $11.27 Million in Weibo Co. (NASDAQ:WB)

Norges Bank bought a new position in shares of Weibo Co. (NASDAQ:WB - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,180,552 shares of the information services provider's stock, valued at approximately $11,274,000. Norges Bank owned 0.49% of Weibo as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. BNP Paribas Financial Markets boosted its holdings in shares of Weibo by 98.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 83,106 shares of the information services provider's stock valued at $838,000 after buying an additional 41,137 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Weibo by 60.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 282,199 shares of the information services provider's stock valued at $2,845,000 after acquiring an additional 105,780 shares during the last quarter. Quadrature Capital Ltd boosted its stake in Weibo by 22.8% in the third quarter. Quadrature Capital Ltd now owns 40,464 shares of the information services provider's stock valued at $408,000 after acquiring an additional 7,508 shares in the last quarter. State Street Corp grew its holdings in Weibo by 0.7% in the third quarter. State Street Corp now owns 931,749 shares of the information services provider's stock worth $9,392,000 after purchasing an additional 6,369 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of Weibo by 1.7% during the third quarter. Two Sigma Advisers LP now owns 1,153,088 shares of the information services provider's stock worth $11,623,000 after purchasing an additional 19,200 shares in the last quarter. Institutional investors own 68.77% of the company's stock.

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Weibo Stock Up 3.5 %

Shares of WB traded up $0.26 during mid-day trading on Friday, hitting $7.60. 2,331,883 shares of the company traded hands, compared to its average volume of 1,801,291. The company has a market capitalization of $1.84 billion, a PE ratio of 5.21 and a beta of 0.12. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average of $10.03 and a 200 day moving average of $9.73. Weibo Co. has a 1-year low of $7.03 and a 1-year high of $12.40.

Weibo Announces Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 9th will be paid 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 payout ratio is 68.97%.

Weibo Company 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.