Penserra Capital Management LLC boosted its holdings in shares of Sina Corporation (NASDAQ:SINA) by 72.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,149 shares of the technology company’s stock after purchasing an additional 54,731 shares during the period. Sina Corporation comprises approximately 3.6% of Penserra Capital Management LLC’s investment portfolio, making the stock its 5th biggest position. Penserra Capital Management LLC owned 0.18% of Sina Corporation worth $14,921,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can lifted its stake in Sina Corporation by 11.7% during the second quarter. Bank of Montreal Can now owns 1,452 shares of the technology company’s stock worth $123,000 after purchasing an additional 152 shares during the last quarter. US Bancorp DE lifted its stake in Sina Corporation by 55.1% during the second quarter. US Bancorp DE now owns 1,501 shares of the technology company’s stock worth $127,000 after purchasing an additional 533 shares during the last quarter. Bronfman E.L. Rothschild L.P. bought a new stake in Sina Corporation during the second quarter worth $136,000. Nomura Asset Management Co. Ltd. lifted its stake in Sina Corporation by 11.0% during the first quarter. Nomura Asset Management Co. Ltd. now owns 2,330 shares of the technology company’s stock worth $168,000 after purchasing an additional 230 shares during the last quarter. Finally, ETF Managers Group LLC bought a new stake in Sina Corporation during the second quarter worth $180,000. Hedge funds and other institutional investors own 66.96% of the company’s stock.
Several equities research analysts have weighed in on the company. Zacks Investment Research cut Sina Corporation from a “hold” rating to a “strong sell” rating in a research note on Monday, August 14th. Jefferies Group LLC restated a “buy” rating on shares of Sina Corporation in a research note on Friday, August 11th. Bank of America Corporation restated a “buy” rating and set a $119.00 target price (up from $112.00) on shares of Sina Corporation in a research note on Thursday, August 10th. Citigroup Inc. upped their target price on Sina Corporation to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. Finally, BidaskClub upgraded Sina Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $104.08.
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Shares of Sina Corporation (SINA) traded up 0.157% on Monday, hitting $105.165. The stock had a trading volume of 420,253 shares. Sina Corporation has a 1-year low of $60.46 and a 1-year high of $119.20. The firm has a 50-day moving average of $113.85 and a 200 day moving average of $96.47. The company has a market capitalization of $7.49 billion, a PE ratio of 34.435 and a beta of 1.15.
Sina Corporation (NASDAQ:SINA) last posted its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.27. Sina Corporation had a net margin of 18.64% and a return on equity of 6.58%. The company had revenue of $358.93 million during the quarter, compared to the consensus estimate of $344.23 million. During the same period in the previous year, the firm posted $0.27 EPS. The firm’s revenue was up 47.1% compared to the same quarter last year. On average, equities analysts anticipate that Sina Corporation will post $2.92 earnings per share for the current fiscal year.
Sina Corporation Profile
Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.
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