Shares of Sina Corporation (NASDAQ:SINA) have earned an average rating of “Buy” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $119.00.
Several analysts recently issued reports on SINA shares. Jefferies Group reiterated a “buy” rating on shares of Sina in a report on Friday, August 11th. Bank of America reiterated a “buy” rating and set a $119.00 price objective (up from $112.00) on shares of Sina in a report on Thursday, August 10th. Citigroup increased their price objective on Sina to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. Benchmark increased their price objective on Sina from $142.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Finally, BidaskClub lowered Sina from a “hold” rating to a “sell” rating in a report on Saturday.
Shares of Sina (NASDAQ:SINA) traded down $1.98 during trading hours on Thursday, hitting $95.79. The company had a trading volume of 1,399,171 shares, compared to its average volume of 1,378,340. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.04. Sina has a twelve month low of $60.46 and a twelve month high of $119.20. The stock has a market capitalization of $6,850.42, a price-to-earnings ratio of 65.61 and a beta of 0.96.
A number of institutional investors have recently bought and sold shares of SINA. Koch Industries Inc. acquired a new position in Sina during the second quarter worth $1,385,000. Renaissance Technologies LLC acquired a new position in Sina during the second quarter worth $52,605,000. Alkeon Capital Management LLC increased its position in Sina by 29.3% during the third quarter. Alkeon Capital Management LLC now owns 2,706,876 shares of the technology company’s stock worth $310,343,000 after buying an additional 614,000 shares during the last quarter. Platinum Investment Management Ltd. increased its position in Sina by 14.9% during the second quarter. Platinum Investment Management Ltd. now owns 3,348,101 shares of the technology company’s stock worth $284,488,000 after buying an additional 435,220 shares during the last quarter. Finally, State of Wisconsin Investment Board increased its position in Sina by 623.4% during the second quarter. State of Wisconsin Investment Board now owns 416,700 shares of the technology company’s stock worth $35,407,000 after buying an additional 359,100 shares during the last quarter. 69.63% of the stock is currently owned by hedge funds and other institutional investors.
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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