Platinum Investment Management Ltd. raised its stake in SINA Corp (NASDAQ:SINA) by 16.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,365,882 shares of the technology company’s stock after purchasing an additional 466,731 shares during the period. SINA accounts for approximately 9.0% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 2nd biggest position. Platinum Investment Management Ltd.’s holdings in SINA were worth $337,631,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in SINA. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of SINA in the fourth quarter valued at about $126,000. Financial Gravity Companies Inc. acquired a new position in shares of SINA in the fourth quarter valued at about $137,000. Stifel Financial Corp acquired a new position in shares of SINA in the third quarter valued at about $210,000. Sheaff Brock Investment Advisors LLC acquired a new position in shares of SINA in the third quarter valued at about $214,000. Finally, B. Riley Financial Inc. acquired a new position in shares of SINA in the fourth quarter valued at about $234,000. Hedge funds and other institutional investors own 66.10% of the company’s stock.
Shares of SINA Corp (NASDAQ SINA) opened at $120.20 on Thursday. SINA Corp has a 52-week low of $68.33 and a 52-week high of $124.60. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.68 and a current ratio of 3.22. The firm has a market cap of $8,417.99, a PE ratio of 56.68 and a beta of 1.01.
SINA (NASDAQ:SINA) last posted its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $482.59 million. During the same quarter in the prior year, the business posted $0.63 earnings per share. SINA’s revenue was up 62.1% compared to the same quarter last year. analysts expect that SINA Corp will post 3.1 EPS for the current fiscal year.
Several equities analysts recently commented on SINA shares. BidaskClub downgraded shares of SINA from a “hold” rating to a “sell” rating in a research note on Saturday, December 2nd. Jefferies Group restated a “buy” rating and issued a $175.00 price target on shares of SINA in a research note on Wednesday, January 24th. Zacks Investment Research raised shares of SINA from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 24th. Benchmark upped their price objective on shares of SINA from $157.00 to $174.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. upped their price objective on shares of SINA from $175.00 to $179.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. SINA currently has a consensus rating of “Buy” and a consensus target price of $139.00.
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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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