Federated Hermes Inc. Reduces Position in Weibo Corporation $WB

Federated Hermes Inc. reduced its stake in shares of Weibo Corporation (NASDAQ:WB) by 46.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,146,201 shares of the information services provider’s stock after selling 987,266 shares during the period. Federated Hermes Inc. owned approximately 0.47% of Weibo worth $14,213,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Daiwa Securities Group Inc. purchased a new position in Weibo in the 2nd quarter worth $61,000. AQR Capital Management LLC acquired a new position in shares of Weibo in the first quarter valued at about $117,000. Vest Financial LLC purchased a new position in shares of Weibo in the third quarter worth about $176,000. Fox Run Management L.L.C. purchased a new position in shares of Weibo in the second quarter worth about $136,000. Finally, CANADA LIFE ASSURANCE Co acquired a new stake in shares of Weibo during the second quarter worth about $155,000. 68.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WB. Weiss Ratings reiterated a “hold (c)” rating on shares of Weibo in a report on Wednesday, January 21st. Wall Street Zen lowered shares of Weibo from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $14.00.

Weibo Trading Down 2.3%

Weibo stock opened at $10.58 on Friday. The firm has a market cap of $2.58 billion, a PE ratio of 6.01, a P/E/G ratio of 5.63 and a beta of 0.13. Weibo Corporation has a 12 month low of $7.10 and a 12 month high of $12.96. The stock’s 50 day simple moving average is $10.42 and its two-hundred day simple moving average is $10.90. The company has a current ratio of 3.35, a quick ratio of 3.35 and a debt-to-equity ratio of 0.48.

Weibo Company Profile

Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.

Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.