Platinum Investment Management Ltd. grew its holdings in SINA Corp (NASDAQ:SINA) by 16.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,365,882 shares of the technology company’s stock after purchasing an additional 466,731 shares during the quarter. SINA accounts for about 9.0% of Platinum Investment Management Ltd.’s holdings, making the stock its 2nd biggest holding. Platinum Investment Management Ltd. owned about 4.71% of SINA worth $337,631,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Verition Fund Management LLC raised its holdings in SINA by 87.0% during the fourth quarter. Verition Fund Management LLC now owns 6,333 shares of the technology company’s stock worth $635,000 after purchasing an additional 2,946 shares in the last quarter. Sciencast Management LP acquired a new stake in SINA during the fourth quarter worth approximately $358,000. TIAA CREF Investment Management LLC raised its holdings in SINA by 51.4% during the fourth quarter. TIAA CREF Investment Management LLC now owns 144,159 shares of the technology company’s stock worth $14,461,000 after purchasing an additional 48,943 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of SINA by 590.5% in the 4th quarter. Teachers Advisors LLC now owns 177,271 shares of the technology company’s stock valued at $17,782,000 after acquiring an additional 151,600 shares during the period. Finally, HBK Investments L P increased its holdings in shares of SINA by 95.6% in the 4th quarter. HBK Investments L P now owns 1,186,821 shares of the technology company’s stock valued at $119,050,000 after acquiring an additional 580,073 shares during the period. 66.04% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently commented on SINA. Zacks Investment Research raised shares of SINA from a “sell” rating to a “hold” rating in a report on Friday, March 9th. BidaskClub raised shares of SINA from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Jefferies Group reissued a “buy” rating and issued a $175.00 price objective on shares of SINA in a research note on Wednesday, January 24th. JPMorgan Chase boosted their price objective on shares of SINA from $175.00 to $179.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Finally, Benchmark boosted their target price 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $139.00.
SINA stock opened at $96.68 on Friday. 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 stock has a market capitalization of $7,102.12, a P/E ratio of 46.26 and a beta of 1.14.
SINA (NASDAQ:SINA) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.50 by $0.29. The business had revenue of $503.70 million for the quarter, compared to analyst estimates of $482.59 million. SINA had a net margin of 9.89% and a return on equity of 3.99%. The business’s revenue for the quarter was up 62.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 EPS. analysts forecast that SINA Corp will post 2.97 EPS for the current fiscal year.
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SINA Corporation, through its subsidiaries, operates as an online media company in the People's Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including multimedia news; business news coverage and personal finance columns; sporting events news; automobile-related news; entertainment news and events; technology updates; interactive video products, such as news, sports, entertainment, and education; and education, digital, fashion, eLadies, luxury, health, collectibles, travel, and other interest-based channels.
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