SG Americas Securities LLC Reduces Position in Sina Corporation (SINA)

SG Americas Securities LLC cut its position in shares of Sina Corporation (NASDAQ:SINA) by 33.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,380 shares of the technology company’s stock after selling 16,311 shares during the period. SG Americas Securities LLC’s holdings in Sina Corporation were worth $2,751,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Sina Corporation by 1,354.9% in the first quarter. BlackRock Inc. now owns 2,502,738 shares of the technology company’s stock worth $180,498,000 after buying an additional 2,702,176 shares in the last quarter. Platinum Investment Management Ltd. increased its stake in shares of Sina Corporation by 27.8% in the first quarter. Platinum Investment Management Ltd. now owns 2,912,881 shares of the technology company’s stock worth $210,076,000 after buying an additional 632,879 shares in the last quarter. Green Court Capital Management Ltd bought a new stake in shares of Sina Corporation during the second quarter worth about $51,607,000. William Blair Investment Management LLC bought a new stake in shares of Sina Corporation during the first quarter worth about $31,895,000. Finally, Neuberger Berman Group LLC increased its stake in shares of Sina Corporation by 141.0% in the first quarter. Neuberger Berman Group LLC now owns 696,037 shares of the technology company’s stock worth $50,198,000 after buying an additional 407,189 shares in the last quarter. Institutional investors own 66.00% of the company’s stock.

Sina Corporation (NASDAQ:SINA) opened at 100.87 on Wednesday. Sina Corporation has a 52 week low of $60.46 and a 52 week high of $105.99. The firm has a 50 day moving average of $93.94 and a 200-day moving average of $83.24. The stock has a market capitalization of $7.18 billion, a PE ratio of 33.03 and a beta of 1.24.

Sina Corporation (NASDAQ:SINA) last announced its earnings results on Wednesday, August 9th. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.27. Sina Corporation had a net margin of 18.64% and a return on equity of 6.58%. The firm had revenue of $358.93 million during the quarter, compared to the consensus estimate of $344.23 million. During the same quarter in the previous year, the company posted $0.27 EPS. The firm’s revenue for the quarter was up 47.1% on a year-over-year basis. On average, equities analysts predict that Sina Corporation will post $2.86 EPS for the current year.

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SINA has been the topic of a number of research reports. T.H. Capital lifted their price target on shares of Sina Corporation from $62.00 to $94.00 and gave the company a “buy” rating in a report on Friday, May 12th. Jefferies Group LLC reiterated a “buy” rating and issued a $122.00 price target on shares of Sina Corporation in a report on Wednesday, May 17th. Stifel Nicolaus reiterated a “hold” rating and issued a $92.00 price target (up from $74.00) on shares of Sina Corporation in a report on Wednesday, May 17th. BidaskClub downgraded shares of Sina Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research downgraded shares of Sina Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average 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.