First Manhattan Co. decreased its stake in shares of Sina Corporation (NASDAQ:SINA) by 27.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,496 shares of the technology company’s stock after selling 30,000 shares during the quarter. First Manhattan Co. owned about 0.11% of Sina Corporation worth $8,884,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of SINA. BlackRock Inc. increased its position in shares of Sina Corporation by 1,354.9% during the 1st quarter. BlackRock Inc. now owns 2,502,738 shares of the technology company’s stock worth $180,498,000 after purchasing an additional 2,702,176 shares during the last quarter. Koch Industries Inc. acquired a new position in shares of Sina Corporation during the 2nd quarter worth approximately $1,385,000. Renaissance Technologies LLC acquired a new position in shares of Sina Corporation during the 2nd quarter worth approximately $52,605,000. Green Court Capital Management Ltd acquired a new position in shares of Sina Corporation during the 2nd quarter worth approximately $51,607,000. Finally, Platinum Investment Management Ltd. increased its position in shares of Sina Corporation by 14.9% during the 2nd quarter. Platinum Investment Management Ltd. now owns 3,348,101 shares of the technology company’s stock worth $284,488,000 after purchasing an additional 435,220 shares during the last quarter. 66.96% of the stock is currently owned by hedge funds and other institutional investors.
Sina Corporation (NASDAQ:SINA) opened at 107.65 on Wednesday. The company’s 50 day moving average price is $113.52 and its 200-day moving average price is $97.19. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 35.25 and a beta of 1.16. Sina Corporation has a 12-month low of $60.46 and a 12-month high of $119.20.
Sina Corporation (NASDAQ:SINA) last issued its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.27. The company had revenue of $358.93 million during the quarter, compared to the consensus estimate of $344.23 million. Sina Corporation had a return on equity of 6.58% and a net margin of 18.64%. Sina Corporation’s revenue was up 47.1% on a year-over-year basis. During the same period last year, the business posted $0.27 earnings per share. On average, equities analysts anticipate that Sina Corporation will post $2.94 earnings per share for the current fiscal year.
SINA has been the topic of several recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $122.00 price target on shares of Sina Corporation in a research report on Friday, July 14th. Bank of America Corporation reaffirmed a “buy” rating and set a $119.00 price target (up previously from $112.00) on shares of Sina Corporation in a research report on Thursday, August 10th. Zacks Investment Research lowered Sina Corporation from a “hold” rating to a “strong sell” rating in a research report on Monday, August 14th. Citigroup Inc. boosted their price target on Sina Corporation to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Finally, BidaskClub raised Sina Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Sina Corporation currently has an average rating of “Buy” and a consensus target price of $104.08.
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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