Xact Kapitalforvaltning AB increased its holdings in shares of SINA Corp (NASDAQ:SINA) by 15.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,600 shares of the technology company’s stock after acquiring an additional 900 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in SINA were worth $688,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in SINA by 44.0% during the first quarter. Royal Bank of Canada now owns 9,245 shares of the technology company’s stock worth $965,000 after acquiring an additional 2,826 shares during the period. Legal & General Group Plc increased its position in SINA by 2.9% during the first quarter. Legal & General Group Plc now owns 336,790 shares of the technology company’s stock worth $35,118,000 after acquiring an additional 9,374 shares during the period. Highbridge Capital Management LLC increased its position in SINA by 727.6% during the first quarter. Highbridge Capital Management LLC now owns 50,484 shares of the technology company’s stock worth $5,263,000 after acquiring an additional 44,384 shares during the period. Millennium Management LLC grew its stake in SINA by 141.8% during the first quarter. Millennium Management LLC now owns 126,436 shares of the technology company’s stock worth $13,183,000 after buying an additional 74,149 shares in the last quarter. Finally, Sciencast Management LP grew its stake in SINA by 48.9% during the first quarter. Sciencast Management LP now owns 4,468 shares of the technology company’s stock worth $430,000 after buying an additional 1,468 shares in the last quarter. 72.44% of the stock is currently owned by institutional investors and hedge funds.
Shares of SINA opened at $84.69 on Monday, according to Marketbeat.com. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.20 and a quick ratio of 3.20. SINA Corp has a fifty-two week low of $79.69 and a fifty-two week high of $124.60. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 40.52 and a beta of 1.11.
SINA (NASDAQ:SINA) last announced its quarterly earnings results on Wednesday, May 9th. The technology company reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.25. SINA had a return on equity of 4.18% and a net margin of 8.40%. The business had revenue of $440.70 million for the quarter, compared to analyst estimates of $435.74 million. During the same quarter in the previous year, the company earned $0.50 EPS. The company’s quarterly revenue was up 58.5% on a year-over-year basis. analysts forecast that SINA Corp will post 2.78 EPS for the current year.
A number of equities research analysts have issued reports on SINA shares. Deutsche Bank began coverage on shares of SINA in a research note on Thursday, April 19th. They set a “buy” rating and a $128.00 price objective on the stock. Benchmark reiterated a “buy” rating and issued a $159.00 price objective on shares of SINA in a research note on Thursday, May 10th. They noted that the move was a valuation call. TheStreet lowered shares of SINA from a “b-” rating to a “c” rating in a research note on Wednesday, May 9th. Zacks Investment Research upgraded shares of SINA from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Finally, BidaskClub upgraded shares of SINA from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. SINA currently has a consensus rating of “Hold” and an average price target of $150.00.
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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