SINA (SINA) Shares Up 5.5%

SINA Corp (NASDAQ:SINA) shot up 5.5% during mid-day trading on Friday . The company traded as high as $121.91 and last traded at $121.80. 1,544,173 shares were traded during mid-day trading, an increase of 53% from the average session volume of 1,007,426 shares. The stock had previously closed at $115.46.

A number of research firms have issued reports on SINA. Benchmark raised their target price on SINA from $157.00 to $174.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. BidaskClub cut SINA from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. raised their target price on SINA from $175.00 to $179.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Jefferies Group restated a “buy” rating and set a $175.00 price objective on shares of SINA in a research note on Wednesday, January 24th. Finally, Zacks Investment Research upgraded shares of SINA from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. SINA currently has a consensus rating of “Buy” and an average price target of $139.00.

The company has a current ratio of 3.22, a quick ratio of 2.68 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $8,710.00, a P/E ratio of 57.45 and a beta of 1.06.

SINA (NASDAQ:SINA) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.29. SINA had a net margin of 9.89% and a return on equity of 3.99%. The business had revenue of $503.70 million for the quarter, compared to analysts’ expectations of $482.59 million. During the same period in the previous year, the business earned $0.63 earnings per share. The company’s revenue was up 62.1% on a year-over-year basis. sell-side analysts expect that SINA Corp will post 3.1 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Gravity Companies Inc. bought a new stake in shares of SINA during the fourth quarter valued at about $137,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in SINA during the fourth quarter worth about $126,000. Stifel Financial Corp acquired a new position in SINA during the third quarter worth about $210,000. Sheaff Brock Investment Advisors LLC acquired a new position in SINA during the third quarter worth about $214,000. Finally, B. Riley Financial Inc. acquired a new position in SINA during the fourth quarter worth about $234,000. Institutional investors and hedge funds own 65.91% of the company’s stock.

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About SINA

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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