Mirae Asset Global Investments Co. Ltd. Trims Holdings in Weibo Co. (NASDAQ:WB)

Mirae Asset Global Investments Co. Ltd. cut its stake in Weibo Co. (NASDAQ:WB) by 38.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 72,127 shares of the information services provider’s stock after selling 44,621 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Weibo were worth $790,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in WB. Profund Advisors LLC purchased a new position in Weibo during the third quarter worth about $133,000. abrdn plc grew its position in Weibo by 7.6% during the third quarter. abrdn plc now owns 11,710 shares of the information services provider’s stock worth $147,000 after buying an additional 829 shares in the last quarter. Quantbot Technologies LP grew its position in Weibo by 353.7% during the third quarter. Quantbot Technologies LP now owns 21,500 shares of the information services provider’s stock worth $270,000 after buying an additional 16,761 shares in the last quarter. Headlands Technologies LLC grew its position in Weibo by 33.8% during the third quarter. Headlands Technologies LLC now owns 24,129 shares of the information services provider’s stock worth $303,000 after buying an additional 6,097 shares in the last quarter. Finally, Quadrature Capital Ltd grew its position in Weibo by 38.2% during the third quarter. Quadrature Capital Ltd now owns 32,887 shares of the information services provider’s stock worth $413,000 after buying an additional 9,093 shares in the last quarter. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on WB. HSBC reduced their target price on Weibo from $13.60 to $9.80 and set a “hold” rating for the company in a research report on Friday, March 15th. StockNews.com lowered Weibo from a “buy” rating to a “hold” rating in a research note on Friday, January 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $10.60 price target on shares of Weibo in a research note on Thursday, March 28th. UBS Group raised Weibo from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $12.90 to $11.50 in a research note on Tuesday, March 19th. Finally, Bank of America lowered Weibo from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $19.50 to $10.00 in a research note on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.98.

Weibo Trading Up 4.9 %

NASDAQ WB opened at $8.53 on Thursday. Weibo Co. has a 1-year low of $7.58 and a 1-year high of $18.10. The company has a current ratio of 2.51, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average of $8.94 and a 200-day moving average of $9.94. The firm has a market cap of $2.00 billion, a PE ratio of 6.01, a price-to-earnings-growth ratio of 1.23 and a beta of 0.44.

Weibo (NASDAQ:WB) last announced its quarterly earnings results on Thursday, March 14th. The information services provider reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.14). Weibo had a net margin of 19.47% and a return on equity of 10.77%. The business had revenue of $463.67 million for the quarter, compared to analysts’ expectations of $452.30 million. As a group, sell-side analysts forecast that Weibo Co. will post 1.64 EPS for the current year.

Weibo Cuts Dividend

The firm also recently declared a — dividend, which will be paid on Monday, May 13th. Investors of record on Friday, April 12th will be issued a dividend of $0.80 per share. The ex-dividend date is Thursday, April 11th.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover content in the People's Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.