River & Mercantile Asset Management LLP raised its stake in SINA Corp (NASDAQ:SINA) by 83.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,587 shares of the technology company’s stock after acquiring an additional 44,287 shares during the quarter. River & Mercantile Asset Management LLP owned approximately 0.14% of SINA worth $6,778,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. First Hawaiian Bank acquired a new position in SINA in the third quarter valued at approximately $125,000. Redpoint Investment Management Pty Ltd acquired a new position in SINA in the second quarter valued at approximately $202,000. PNC Financial Services Group Inc. lifted its holdings in SINA by 44.8% in the second quarter. PNC Financial Services Group Inc. now owns 2,626 shares of the technology company’s stock valued at $222,000 after acquiring an additional 813 shares during the period. Sumitomo Mitsui Asset Management Company LTD acquired a new position in SINA in the third quarter valued at approximately $244,000. Finally, Creative Planning acquired a new position in SINA in the third quarter valued at approximately $258,000. 64.83% of the stock is owned by institutional investors.
Shares of SINA stock traded up $0.43 during trading hours on Friday, hitting $64.75. 67,573 shares of the company’s stock were exchanged, compared to its average volume of 690,985. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.99 and a quick ratio of 2.99. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 30.98 and a beta of 1.04. SINA Corp has a fifty-two week low of $56.67 and a fifty-two week high of $124.60.
SINA (NASDAQ:SINA) last announced its earnings results on Wednesday, November 28th. The technology company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.16. The business had revenue of $557.20 million during the quarter, compared to the consensus estimate of $561.76 million. SINA had a return on equity of 4.22% and a net margin of 7.58%. The business’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 EPS. Analysts anticipate that SINA Corp will post 2.27 earnings per share for the current fiscal year.
SINA has been the subject of several research analyst reports. JPMorgan Chase & Co. initiated coverage on SINA in a research note on Wednesday, August 29th. They set an “overweight” rating and a $150.00 target price for the company. Zacks Investment Research downgraded SINA from a “hold” rating to a “strong sell” rating in a research note on Friday, September 7th. BidaskClub raised SINA from a “strong sell” rating to a “sell” rating in a research note on Friday, September 21st. ValuEngine raised SINA from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 27th. Finally, Benchmark reduced their target price on SINA from $119.00 to $96.00 and set a “buy” rating for the company in a research note on Monday, November 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. SINA currently has a consensus rating of “Hold” and a consensus price target of $111.40.
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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, and entertainment; and education, digital, fashion, luxury, health, collectibles, travel, and other interest-based channels.
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