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Candriam Luxembourg S.C.A. lowered its position in Weibo Corporation (NASDAQ:WB) by 14.6% during the second quarter, Holdings Channel reports. The firm owned 178,500 shares of the information services provider’s stock after selling 30,500 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Weibo Corporation were worth $11,865,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of WB. Alta Advisers Ltd raised its stake in shares of Weibo Corporation by 5.0% in the first quarter. Alta Advisers Ltd now owns 2,100 shares of the information services provider’s stock valued at $110,000 after buying an additional 100 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Weibo Corporation during the first quarter valued at about $162,000. Victory Capital Management Inc. raised its stake in shares of Weibo Corporation by 16.0% in the first quarter. Victory Capital Management Inc. now owns 3,894 shares of the information services provider’s stock valued at $203,000 after buying an additional 537 shares during the last quarter. Hilton Capital Management LLC purchased a new stake in shares of Weibo Corporation during the first quarter valued at about $206,000. Finally, Koch Industries Inc. purchased a new stake in shares of Weibo Corporation during the first quarter valued at about $248,000. Institutional investors and hedge funds own 16.75% of the company’s stock.
Weibo Corporation (WB) opened at 78.77 on Friday. The firm has a market cap of $16.33 billion, a price-to-earnings ratio of 119.71 and a beta of 2.66. Weibo Corporation has a 12 month low of $32.40 and a 12 month high of $82.28.
Weibo Corporation (NASDAQ:WB) last announced its earnings results on Tuesday, May 16th. The information services provider reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.05. Weibo Corporation had a return on equity of 20.00% and a net margin of 20.10%. The company had revenue of $199.20 million for the quarter, compared to analysts’ expectations of $188.29 million. During the same period last year, the firm earned $0.07 EPS. Weibo Corporation’s revenue for the quarter was up 67.0% compared to the same quarter last year. On average, analysts anticipate that Weibo Corporation will post $1.51 EPS for the current year.
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Several analysts have issued reports on the company. Jefferies Group LLC restated a “buy” rating and issued a $82.00 target price on shares of Weibo Corporation in a research note on Thursday, July 27th. BidaskClub lowered Weibo Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Vetr lowered Weibo Corporation from a “strong-buy” rating to a “buy” rating and set a $65.50 target price on the stock. in a research note on Monday, May 8th. Benchmark Co. assumed coverage on Weibo Corporation in a research note on Tuesday, April 18th. They issued a “buy” rating and a $65.00 target price on the stock. Finally, Barclays PLC restated an “overweight” rating and issued a $85.00 target price (up from $66.00) on shares of Weibo Corporation in a research note on Wednesday, May 17th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $66.95.
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.
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