ClariVest Asset Management LLC boosted its stake in shares of Sina Corporation (NASDAQ:SINA) by 67.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,200 shares of the technology company’s stock after buying an additional 2,500 shares during the period. ClariVest Asset Management LLC’s holdings in Sina Corporation were worth $527,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in SINA. Teacher Retirement System of Texas increased its stake in shares of Sina Corporation by 0.4% in the first quarter. Teacher Retirement System of Texas now owns 4,583 shares of the technology company’s stock valued at $331,000 after buying an additional 18 shares during the period. World Asset Management Inc increased its stake in shares of Sina Corporation by 1.2% in the first quarter. World Asset Management Inc now owns 4,401 shares of the technology company’s stock valued at $317,000 after buying an additional 52 shares during the period. Comerica Bank increased its stake in shares of Sina Corporation by 1.4% in the first quarter. Comerica Bank now owns 4,063 shares of the technology company’s stock valued at $312,000 after buying an additional 55 shares during the period. Bank of Montreal Can increased its stake in shares of Sina Corporation by 11.7% in the second quarter. Bank of Montreal Can now owns 1,452 shares of the technology company’s stock valued at $123,000 after buying an additional 152 shares during the period. Finally, Shell Asset Management Co. increased its stake in shares of Sina Corporation by 0.6% in the second quarter. Shell Asset Management Co. now owns 32,249 shares of the technology company’s stock valued at $2,740,000 after buying an additional 198 shares during the period. Institutional investors own 66.00% of the company’s stock.
Sina Corporation (NASDAQ:SINA) opened at 98.40 on Friday. Sina Corporation has a 12-month low of $60.46 and a 12-month high of $105.99. The firm has a 50 day moving average of $93.53 and a 200-day moving average of $82.83. The stock has a market cap of $7.01 billion, a PE ratio of 32.22 and a beta of 1.24.
Sina Corporation (NASDAQ:SINA) last issued its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.27. The firm had revenue of $358.93 million during the quarter, compared to analysts’ expectations of $344.23 million. Sina Corporation had a net margin of 18.64% and a return on equity of 6.58%. Sina Corporation’s quarterly revenue was up 47.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS. On average, analysts expect that Sina Corporation will post $2.86 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: “Sina Corporation (SINA) Position Increased by ClariVest Asset Management LLC” was first reported by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://stocknewstimes.com/2017/08/20/sina-corporation-sina-position-increased-by-clarivest-asset-management-llc.html.
Several equities research analysts have weighed in on the stock. Stifel Nicolaus restated a “hold” rating and issued a $92.00 target price (up from $74.00) on shares of Sina Corporation in a research note on Wednesday, May 17th. Jefferies Group LLC restated a “buy” rating and issued a $122.00 target price on shares of Sina Corporation in a research note on Wednesday, May 17th. Bank of America Corporation restated a “buy” rating and issued a $119.00 target price (up from $112.00) on shares of Sina Corporation in a research note on Thursday, August 10th. Citigroup Inc. raised their target price on shares of Sina Corporation to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 10th. Finally, BidaskClub upgraded shares of Sina Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $101.74.
About Sina Corporation
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.
Receive News & Ratings for Sina Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sina Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
