MARSHALL WACE ASIA Ltd Buys Shares of 66,076 Weibo Corp (WB)

MARSHALL WACE ASIA Ltd bought a new position in Weibo Corp (NASDAQ:WB) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 66,076 shares of the information services provider’s stock, valued at approximately $4,832,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Korea Investment CORP grew its holdings in Weibo by 236.8% during the 2nd quarter. Korea Investment CORP now owns 22,900 shares of the information services provider’s stock valued at $2,033,000 after buying an additional 16,100 shares in the last quarter. Vident Investment Advisory LLC purchased a new stake in Weibo during the 2nd quarter valued at approximately $1,078,000. Schwab Charles Investment Management Inc. grew its holdings in Weibo by 52.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 40,503 shares of the information services provider’s stock valued at $3,596,000 after buying an additional 13,954 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Weibo by 898.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 248,690 shares of the information services provider’s stock valued at $22,074,000 after acquiring an additional 223,790 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Weibo by 2.8% during the 3rd quarter. Wells Fargo & Company MN now owns 1,589,018 shares of the information services provider’s stock valued at $116,205,000 after acquiring an additional 43,099 shares during the last quarter. 23.64% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently commented on WB. BidaskClub upgraded Weibo from a “strong sell” rating to a “sell” rating in a research report on Wednesday. ValuEngine upgraded Weibo from a “sell” rating to a “hold” rating in a research report on Wednesday. Benchmark lowered their target price on Weibo from $100.00 to $81.00 and set a “buy” rating for the company in a research report on Thursday, November 29th. Barclays set a $80.00 target price on Weibo and gave the company a “buy” rating in a research report on Thursday, November 29th. Finally, Jefferies Financial Group set a $83.00 target price on Weibo and gave the company a “buy” rating in a research report on Thursday, November 29th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $98.57.



Shares of NASDAQ WB traded down $0.43 during midday trading on Friday, reaching $62.15. 11,370 shares of the stock traded hands, compared to its average volume of 2,249,722. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.99 and a current ratio of 3.99. The company has a market capitalization of $14.40 billion, a P/E ratio of 39.88, a P/E/G ratio of 0.91 and a beta of 2.42. Weibo Corp has a one year low of $53.11 and a one year high of $142.12.

Weibo (NASDAQ:WB) last posted its earnings results on Wednesday, November 28th. The information services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $460.20 million during the quarter, compared to the consensus estimate of $459.68 million. Weibo had a return on equity of 38.71% and a net margin of 33.23%. The company’s quarterly revenue was up 43.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 EPS. As a group, equities analysts predict that Weibo Corp will post 2.5 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “MARSHALL WACE ASIA Ltd Buys Shares of 66,076 Weibo Corp (WB)” was first published by Dakota Financial News and is the sole property of of Dakota Financial News. If you are reading this piece on another domain, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this piece can be read at https://dakotafinancialnews.com/2018/12/07/marshall-wace-asia-ltd-buys-shares-of-66076-weibo-corp-wb.html.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates through two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.

Read More: How the Consumer Price Index (CPI) is calculated?

Want to see what other hedge funds are holding WB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Weibo Corp (NASDAQ:WB).

Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

Receive News & Ratings for Weibo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weibo and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply