Penserra Capital Management LLC increased its stake in Sina Corporation (NASDAQ:SINA) by 299.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,418 shares of the technology company’s stock after buying an additional 56,524 shares during the period. Sina Corporation comprises approximately 2.2% of Penserra Capital Management LLC’s portfolio, making the stock its 9th largest position. Penserra Capital Management LLC owned 0.11% of Sina Corporation worth $5,185,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the company. Airain ltd increased its stake in Sina Corporation by 99.2% in the first quarter. Airain ltd now owns 72,575 shares of the technology company’s stock valued at $5,234,000 after buying an additional 36,142 shares in the last quarter. BlackRock Inc. increased its stake in Sina Corporation by 1,354.9% in the first quarter. BlackRock Inc. now owns 2,502,738 shares of the technology company’s stock valued at $180,498,000 after buying an additional 2,702,176 shares during the period. First Trust Advisors LP increased its stake in Sina Corporation by 40.5% in the first quarter. First Trust Advisors LP now owns 53,655 shares of the technology company’s stock valued at $3,870,000 after buying an additional 15,463 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in Sina Corporation by 1.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 91,525 shares of the technology company’s stock valued at $6,601,000 after buying an additional 972 shares during the period. Finally, KBC Group NV increased its stake in Sina Corporation by 4,661.2% in the first quarter. KBC Group NV now owns 73,418 shares of the technology company’s stock valued at $5,295,000 after buying an additional 71,876 shares during the period. 66.00% of the stock is currently owned by institutional investors.
Sina Corporation (NASDAQ:SINA) opened at 100.68 on Friday. Sina Corporation has a 1-year low of $60.46 and a 1-year high of $105.99. The firm has a market capitalization of $7.17 billion, a PE ratio of 32.97 and a beta of 1.24. The company has a 50 day moving average of $95.58 and a 200 day moving average of $83.96.
Sina Corporation (NASDAQ:SINA) last issued its earnings results on Wednesday, August 9th. The technology company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.27. Sina Corporation had a return on equity of 6.58% and a net margin of 18.64%. The firm had revenue of $358.93 million for the quarter, compared to analyst estimates of $344.23 million. During the same period last year, the company earned $0.27 earnings per share. The firm’s revenue for the quarter was up 47.1% on a year-over-year basis. Analysts forecast that Sina Corporation will post $2.86 EPS for the current year.
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Several research firms have recently commented on SINA. Zacks Investment Research downgraded shares of Sina Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, August 14th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Sina Corporation in a report on Friday, August 11th. Bank of America Corporation reaffirmed a “buy” rating and issued a $119.00 price objective (up from $112.00) on shares of Sina Corporation in a report on Thursday, August 10th. Citigroup Inc. upped their price objective on shares of Sina Corporation to $140.00 and gave the company a “buy” rating in a report on Thursday, August 10th. Finally, BidaskClub raised shares of Sina Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price 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.
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