Financial Gravity Wealth Inc. Takes $131,000 Position in SINA Corp (SINA)

Financial Gravity Wealth Inc. purchased a new position in SINA Corp (NASDAQ:SINA) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,387 shares of the technology company’s stock, valued at approximately $131,000.

Other institutional investors have also recently made changes to their positions in the company. TIAA CREF Investment Management LLC lifted its holdings in shares of SINA by 51.4% in the fourth quarter. TIAA CREF Investment Management LLC now owns 144,159 shares of the technology company’s stock worth $14,461,000 after buying an additional 48,943 shares in the last quarter. Eagle Global Advisors LLC lifted its holdings in shares of SINA by 2.7% in the fourth quarter. Eagle Global Advisors LLC now owns 86,470 shares of the technology company’s stock worth $8,674,000 after buying an additional 2,275 shares in the last quarter. Ariose Capital Management Ltd lifted its holdings in shares of SINA by 472.9% in the first quarter. Ariose Capital Management Ltd now owns 531,400 shares of the technology company’s stock worth $55,409,000 after buying an additional 438,644 shares in the last quarter. Aperio Group LLC lifted its holdings in shares of SINA by 17.2% in the first quarter. Aperio Group LLC now owns 33,741 shares of the technology company’s stock worth $3,518,000 after buying an additional 4,959 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its holdings in shares of SINA by 479.4% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 86,900 shares of the technology company’s stock worth $8,717,000 after buying an additional 71,901 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SINA opened at $88.81 on Friday. SINA Corp has a 1-year low of $83.41 and a 1-year high of $124.60. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $6.43 billion, a P/E ratio of 42.49 and a beta of 1.11.

SINA (NASDAQ:SINA) last issued its quarterly earnings results on Wednesday, May 9th. The technology company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.25. SINA had a net margin of 8.40% and a return on equity of 4.18%. The business had revenue of $440.70 million for the quarter, compared to analysts’ expectations of $435.74 million. During the same period last year, the business earned $0.50 earnings per share. The business’s quarterly revenue was up 58.5% on a year-over-year basis. analysts anticipate that SINA Corp will post 2.78 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on SINA shares. ValuEngine raised shares of SINA from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 2nd. BidaskClub raised shares of SINA from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Zacks Investment Research downgraded shares of SINA from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 17th. Benchmark reaffirmed a “buy” rating and issued a $159.00 target price on shares of SINA in a research note on Thursday, May 10th. They noted that the move was a valuation call. Finally, TheStreet downgraded shares of SINA from a “b-” rating to a “c” rating in a research note on Wednesday, May 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $150.00.

About SINA

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, and entertainment; and education, digital, fashion, luxury, health, collectibles, travel, and other interest-based channels.

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Institutional Ownership by Quarter for SINA (NASDAQ:SINA)

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