Schwab Charles Investment Management Inc. acquired a new stake in shares of SINA Corp (NASDAQ:SINA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 61,614 shares of the technology company’s stock, valued at approximately $7,065,000. Schwab Charles Investment Management Inc. owned 0.09% of SINA at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of SINA. Maso Capital Partners Ltd purchased a new stake in SINA during the 3rd quarter valued at $1,376,000. Greenwoods Asset Management Ltd increased its stake in SINA by 2.6% in the third quarter. Greenwoods Asset Management Ltd now owns 1,411,158 shares of the technology company’s stock worth $161,789,000 after purchasing an additional 36,000 shares during the period. Wells Fargo & Company MN increased its stake in SINA by 0.4% in the third quarter. Wells Fargo & Company MN now owns 2,334,225 shares of the technology company’s stock worth $267,620,000 after purchasing an additional 8,384 shares during the period. Trexquant Investment LP increased its stake in SINA by 51.7% in the third quarter. Trexquant Investment LP now owns 5,917 shares of the technology company’s stock worth $678,000 after purchasing an additional 2,017 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of SINA by 394.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 171,113 shares of the technology company’s stock worth $19,414,000 after buying an additional 136,537 shares in the last quarter. Institutional investors and hedge funds own 69.26% of the company’s stock.
A number of equities analysts have recently issued reports on SINA shares. Benchmark increased their price target on SINA from $142.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. BidaskClub raised SINA from a “sell” rating to a “hold” rating in a research report on Tuesday, December 19th. Finally, Zacks Investment Research downgraded SINA from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $120.67.
Shares of SINA Corp (NASDAQ SINA) opened at $113.00 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.68 and a quick ratio of 2.68. The company has a market capitalization of $8,069.00, a P/E ratio of 77.28 and a beta of 0.96. SINA Corp has a 12-month low of $66.40 and a 12-month high of $119.20.
SINA (NASDAQ:SINA) last issued its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.26. The firm had revenue of $440.50 million for the quarter, compared to analyst estimates of $404.71 million. SINA had a return on equity of 3.36% and a net margin of 9.41%. The business’s revenue was up 60.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 earnings per share. sell-side analysts anticipate that SINA Corp will post 2.13 EPS for the current fiscal year.
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SINA 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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