Shell Asset Management Co. lowered its holdings in SINA Corp (NASDAQ:SINA) by 39.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,893 shares of the technology company’s stock after selling 12,562 shares during the quarter. Shell Asset Management Co.’s holdings in SINA were worth $1,313,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. First Hawaiian Bank bought a new stake in SINA in the third quarter valued at about $125,000. Redpoint Investment Management Pty Ltd bought a new stake in SINA in the second quarter valued at about $202,000. PNC Financial Services Group Inc. increased its stake in SINA by 44.8% in the second quarter. PNC Financial Services Group Inc. now owns 2,626 shares of the technology company’s stock valued at $222,000 after acquiring an additional 813 shares during the period. Sumitomo Mitsui Asset Management Company LTD bought a new stake in SINA in the third quarter valued at about $244,000. Finally, Creative Planning bought a new stake in SINA during the third quarter worth about $258,000. 64.83% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have weighed in on SINA shares. BidaskClub cut shares of SINA from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 9th. Zacks Investment Research cut shares of SINA from a “hold” rating to a “strong sell” rating in a research note on Friday, September 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $89.00 price objective on shares of SINA in a research note on Tuesday, November 20th. JPMorgan Chase & Co. started coverage on shares of SINA in a research note on Wednesday, August 29th. They set an “overweight” rating and a $150.00 price objective on the stock. Finally, ValuEngine cut shares of SINA from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 7th. Three analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $111.40.
SINA (NASDAQ:SINA) last issued its quarterly earnings data on Wednesday, November 28th. The technology company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.16. SINA had a net margin of 7.58% and a return on equity of 4.22%. The firm had revenue of $557.20 million for the quarter, compared to analysts’ expectations of $561.76 million. During the same period in the prior year, the firm earned $0.77 earnings per share. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. As a group, equities analysts anticipate that SINA Corp will post 2.08 EPS for the current year.
SINA Corporation, through its subsidiaries, operates as an online media company in the People's Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including multimedia news; business news coverage and personal finance columns; sporting events news; automobile-related news; entertainment news and events; technology updates; interactive video products, such as news, sports, and entertainment; and education, digital, fashion, luxury, health, collectibles, travel, and other interest-based channels.
Further Reading: SEC Filing
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