Krane Funds Advisors LLC Sells 401,982 Shares of Weibo Corporation $WB

Krane Funds Advisors LLC lessened its stake in shares of Weibo Corporation (NASDAQ:WB) by 8.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,274,081 shares of the information services provider’s stock after selling 401,982 shares during the period. Weibo comprises about 1.4% of Krane Funds Advisors LLC’s holdings, making the stock its 13th biggest position. Krane Funds Advisors LLC’s holdings in Weibo were worth $43,681,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. AQR Capital Management LLC purchased a new stake in shares of Weibo during the 1st quarter worth approximately $117,000. JPMorgan Chase & Co. grew its holdings in Weibo by 497.1% during the second quarter. JPMorgan Chase & Co. now owns 720,348 shares of the information services provider’s stock valued at $6,865,000 after purchasing an additional 599,700 shares during the period. Marshall Wace LLP purchased a new stake in Weibo in the second quarter worth $2,502,000. Daiwa Securities Group Inc. bought a new stake in shares of Weibo in the second quarter valued at $61,000. Finally, Raymond James Financial Inc. lifted its position in shares of Weibo by 139.5% during the 2nd quarter. Raymond James Financial Inc. now owns 47,852 shares of the information services provider’s stock valued at $456,000 after buying an additional 27,868 shares during the last quarter. Institutional investors own 68.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on WB shares. Jefferies Financial Group reiterated a “buy” rating and set a $9.80 target price on shares of Weibo in a research report on Thursday, May 28th. Weiss Ratings downgraded shares of Weibo from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.90.

Weibo Stock Performance

NASDAQ WB opened at $7.70 on Monday. Weibo Corporation has a 52-week low of $7.68 and a 52-week high of $12.96. The company has a fifty day moving average of $8.43 and a 200-day moving average of $9.53. The company has a market capitalization of $1.88 billion, a P/E ratio of 5.38, a P/E/G ratio of 4.04 and a beta of 0.20. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.02 and a current ratio of 3.02.

Weibo (NASDAQ:WB) last released its quarterly earnings results on Thursday, May 28th. The information services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Weibo had a net margin of 21.15% and a return on equity of 9.90%. The firm had revenue of $421.33 million for the quarter, compared to analysts’ expectations of $416.76 million. During the same quarter in the previous year, the business earned $0.45 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts predict that Weibo Corporation will post 1.45 EPS for the current fiscal year.

Weibo Cuts Dividend

The company also recently announced an annual dividend, which was paid on Friday, May 22nd. Investors of record on Friday, April 17th were given a $0.61 dividend. The ex-dividend date was Friday, April 17th. This represents a yield of 690.0%. Weibo’s payout ratio is presently 41.26%.

Weibo Company Profile

Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.

Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.