BARING ASSET MANAGEMENT Ltd Acquires Shares of 120,623 Weibo Corporation (WB)

BARING ASSET MANAGEMENT Ltd acquired a new stake in shares of Weibo Corporation (NASDAQ:WB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 120,623 shares of the information services provider’s stock, valued at approximately $11,934,000. BARING ASSET MANAGEMENT Ltd owned approximately 0.06% of Weibo Corporation at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of WB. BT Investment Management Ltd acquired a new stake in Weibo Corporation in the second quarter worth about $63,749,000. Harding Loevner LP boosted its holdings in Weibo Corporation by 23.7% in the second quarter. Harding Loevner LP now owns 3,505,901 shares of the information services provider’s stock worth $233,037,000 after acquiring an additional 672,381 shares in the last quarter. Platinum Investment Management Ltd. acquired a new stake in Weibo Corporation in the second quarter worth about $27,010,000. Acadian Asset Management LLC boosted its holdings in Weibo Corporation by 30.2% in the second quarter. Acadian Asset Management LLC now owns 1,707,419 shares of the information services provider’s stock worth $113,491,000 after acquiring an additional 396,281 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in Weibo Corporation by 36.9% in the second quarter. Macquarie Group Ltd. now owns 1,239,263 shares of the information services provider’s stock worth $82,378,000 after acquiring an additional 334,095 shares in the last quarter. 19.51% of the stock is currently owned by institutional investors.

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Shares of Weibo Corporation (NASDAQ WB) traded down 1.4687% during mid-day trading on Monday, reaching $89.5551. The company’s stock had a trading volume of 807,293 shares. The company has a market capitalization of $18.56 billion, a price-to-earnings ratio of 103.1741 and a beta of 2.58. The company’s 50 day moving average price is $99.89 and its 200-day moving average price is $80.69. Weibo Corporation has a 1-year low of $40.12 and a 1-year high of $108.30.

Weibo Corporation (NASDAQ:WB) last issued its earnings results on Wednesday, August 9th. The information services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $253.37 million during the quarter, compared to the consensus estimate of $246.78 million. Weibo Corporation had a return on equity of 24.45% and a net margin of 23.22%. The company’s revenue for the quarter was up 72.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 EPS. Analysts predict that Weibo Corporation will post $1.64 earnings per share for the current fiscal year.

Several brokerages have weighed in on WB. BidaskClub downgraded Weibo Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Zacks Investment Research cut Weibo Corporation from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 12th. Citigroup Inc. restated a “buy” rating and issued a $126.00 price objective (up from $102.00) on shares of Weibo Corporation in a research note on Thursday, September 14th. Instinet restated a “buy” rating and issued a $102.00 price objective (up from $91.00) on shares of Weibo Corporation in a research note on Friday, August 11th. Finally, Barclays PLC set a $100.00 price objective on Weibo Corporation and gave the stock an “overweight” rating in a research note on Friday, August 11th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $85.28.

Weibo Corporation Company Profile

Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.

Institutional Ownership by Quarter for Weibo Corporation (NASDAQ:WB)

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