BARING ASSET MANAGEMENT Ltd bought a new stake in shares of Sina Corporation (NASDAQ:SINA) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 51,527 shares of the technology company’s stock, valued at approximately $5,906,000. BARING ASSET MANAGEMENT Ltd owned approximately 0.07% of Sina Corporation as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also made changes to their positions in SINA. BlackRock Inc. increased its stake in shares of Sina Corporation by 1,354.9% during the first quarter. BlackRock Inc. now owns 2,502,738 shares of the technology company’s stock valued at $180,498,000 after purchasing an additional 2,702,176 shares in the last quarter. Koch Industries Inc. purchased a new stake in shares of Sina Corporation during the second quarter valued at approximately $1,385,000. Renaissance Technologies LLC purchased a new stake in shares of Sina Corporation during the second quarter valued at approximately $52,605,000. Green Court Capital Management Ltd purchased a new stake in shares of Sina Corporation during the second quarter valued at approximately $51,607,000. Finally, Platinum Investment Management Ltd. grew its holdings in shares of Sina Corporation by 14.9% during the second quarter. Platinum Investment Management Ltd. now owns 3,348,101 shares of the technology company’s stock valued at $284,488,000 after buying an additional 435,220 shares during the last quarter. 68.47% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on SINA shares. BidaskClub cut shares of Sina Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research cut shares of Sina Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, August 14th. Bank of America Corporation restated a “buy” rating and issued a $119.00 target price (up previously from $112.00) on shares of Sina Corporation in a report on Thursday, August 10th. Citigroup Inc. raised their target price on shares of Sina Corporation to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. Finally, Benchmark Co. raised their target price on shares of Sina Corporation from $142.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $109.96.
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Shares of Sina Corporation (SINA) traded up $0.31 during mid-day trading on Tuesday, hitting $106.15. 750,200 shares of the stock traded hands, compared to its average volume of 1,079,158. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.04. The company has a market cap of $7,569.11, a P/E ratio of 72.49 and a beta of 1.03. Sina Corporation has a 12-month low of $60.46 and a 12-month high of $119.20.
Sina Corporation (NASDAQ:SINA) last announced its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.26. The company had revenue of $440.50 million for the quarter, compared to the consensus estimate of $404.71 million. Sina Corporation had a net margin of 9.41% and a return on equity of 3.36%. Sina Corporation’s revenue for the quarter was up 60.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 EPS. equities analysts expect that Sina Corporation will post 2.26 earnings per share for the current year.
Sina Corporation Company Profile
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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