SINA Corp (NASDAQ:SINA)’s share price traded down 5.5% on Friday . The company traded as low as $92.18 and last traded at $93.37. 2,585,612 shares traded hands during mid-day trading, an increase of 157% from the average session volume of 1,006,507 shares. The stock had previously closed at $98.82.
A number of equities analysts have recently weighed in on the company. BidaskClub cut SINA from a “sell” rating to a “strong sell” rating in a report on Friday, April 6th. Benchmark boosted their price target on SINA from $157.00 to $174.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Zacks Investment Research raised SINA from a “sell” rating to a “hold” rating in a report on Friday, March 9th. Jefferies Group reissued a “buy” rating and issued a $175.00 price target on shares of SINA in a report on Wednesday, January 24th. Finally, JPMorgan Chase boosted their price target on SINA from $175.00 to $179.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $139.00.
The company has a market cap of $7,067.08, a P/E ratio of 44.67 and a beta of 1.14. The company has a quick ratio of 2.68, a current ratio of 3.22 and a debt-to-equity ratio of 0.24.
Institutional investors have recently added to or reduced their stakes in the stock. Financial Gravity Companies Inc. acquired a new position in SINA in the fourth quarter valued at $137,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in SINA in the fourth quarter valued at $126,000. Stifel Financial Corp acquired a new position in SINA in the third quarter valued at $210,000. B. Riley Financial Inc. acquired a new position in SINA in the fourth quarter valued at $234,000. Finally, Bank of Montreal Can increased its stake in SINA by 93.6% in the fourth quarter. Bank of Montreal Can now owns 2,600 shares of the technology company’s stock valued at $260,000 after purchasing an additional 1,257 shares during the last quarter. Hedge funds and other institutional investors own 66.04% of the company’s stock.
SINA Company Profile
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, entertainment, and education; and education, digital, fashion, eLadies, luxury, health, collectibles, travel, and other interest-based channels.
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