Virginia Retirement Systems ET AL bought a new position in shares of Sina Corp. (NASDAQ:SINA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,600 shares of the company’s stock, valued at approximately $239,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SINA. ClariVest Asset Management LLC bought a new stake in shares of Sina Corp. during the second quarter worth approximately $197,000. World Asset Management Inc acquired a new stake in Sina Corp. during the second quarter worth about $223,000. Commonwealth Equity Services Inc boosted its stake in Sina Corp. by 1.7% in the first quarter. Commonwealth Equity Services Inc now owns 9,094 shares of the company’s stock worth $431,000 after buying an additional 149 shares during the last quarter. Penserra Capital Management LLC boosted its stake in Sina Corp. by 13.1% in the second quarter. Penserra Capital Management LLC now owns 9,281 shares of the company’s stock worth $482,000 after buying an additional 1,075 shares during the last quarter. Finally, Arete Wealth Advisors LLC acquired a new stake in Sina Corp. during the first quarter worth about $515,000. Institutional investors own 58.88% of the company’s stock.
Shares of Sina Corp. (NASDAQ:SINA) opened at 75.58 on Wednesday. The firm’s 50-day moving average price is $76.44 and its 200 day moving average price is $58.71. Sina Corp. has a one year low of $39.58 and a one year high of $85.24. The firm has a market cap of $5.29 billion, a P/E ratio of 61.20 and a beta of 1.39.
Sina Corp. (NASDAQ:SINA) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. Sina Corp. had a return on equity of 0.32% and a net margin of 8.97%. The firm had revenue of $244 million for the quarter, compared to analysts’ expectations of $231.09 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. Analysts predict that Sina Corp. will post $1.09 EPS for the current year.
A number of analysts recently issued reports on SINA shares. Zacks Investment Research raised Sina Corp. from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Tuesday, June 28th. Jefferies Group reissued a “buy” rating and set a $95.00 target price on shares of Sina Corp. in a research note on Friday, September 30th. TheStreet raised Sina Corp. to a “buy” rating in a research note on Friday, August 19th. Brean Capital reissued a “buy” rating on shares of Sina Corp. in a research note on Tuesday, August 16th. Finally, Citigroup Inc. initiated coverage on Sina Corp. in a research note on Friday, August 5th. They set a “buy” rating and a $69.00 target price for the company. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $60.14.
About Sina Corp.
Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.
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