GRATRY & Co LLC Sells 340 Shares of Sina Corporation (SINA)

GRATRY & Co LLC reduced its stake in Sina Corporation (NASDAQ:SINA) by 8.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,590 shares of the technology company’s stock after selling 340 shares during the quarter. GRATRY & Co LLC’s holdings in Sina Corporation were worth $305,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SINA. Teacher Retirement System of Texas increased its stake in Sina Corporation by 0.4% in the 1st quarter. Teacher Retirement System of Texas now owns 4,583 shares of the technology company’s stock worth $331,000 after buying an additional 18 shares in the last quarter. Comerica Bank increased its stake in Sina Corporation by 1.4% in the 1st quarter. Comerica Bank now owns 4,063 shares of the technology company’s stock worth $312,000 after buying an additional 55 shares in the last quarter. Bank of Montreal Can increased its stake in Sina Corporation by 11.7% in the 2nd quarter. Bank of Montreal Can now owns 1,452 shares of the technology company’s stock worth $123,000 after buying an additional 152 shares in the last quarter. Cadence Capital Management LLC increased its stake in Sina Corporation by 1.6% in the 2nd quarter. Cadence Capital Management LLC now owns 10,000 shares of the technology company’s stock worth $850,000 after buying an additional 160 shares in the last quarter. Finally, Shell Asset Management Co. increased its stake in Sina Corporation by 0.6% in the 2nd quarter. Shell Asset Management Co. now owns 32,249 shares of the technology company’s stock worth $2,740,000 after buying an additional 198 shares in the last quarter. 66.91% of the stock is currently owned by institutional investors.

A number of equities research analysts have issued reports on the company. Zacks Investment Research lowered Sina Corporation from a “hold” rating to a “strong sell” rating in a research note on Monday, August 14th. Jefferies Group LLC reiterated a “buy” rating on shares of Sina Corporation in a research note on Friday, August 11th. Bank of America Corporation reiterated a “buy” rating and issued a $119.00 price target (up previously from $112.00) on shares of Sina Corporation in a research note on Thursday, August 10th. Citigroup Inc. increased their price target on Sina Corporation to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. Finally, BidaskClub upgraded Sina Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $104.08.

Shares of Sina Corporation (NASDAQ:SINA) traded up 2.066% during midday trading on Friday, reaching $117.335. The company’s stock had a trading volume of 399,809 shares. The stock has a 50-day moving average of $111.74 and a 200 day moving average of $93.39. The firm has a market capitalization of $8.35 billion, a P/E ratio of 38.420 and a beta of 1.16. Sina Corporation has a 12-month low of $60.46 and a 12-month high of $119.20.

Sina Corporation (NASDAQ:SINA) last released its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.27. Sina Corporation had a net margin of 18.64% and a return on equity of 6.58%. The firm had revenue of $358.93 million during the quarter, compared to the consensus estimate of $344.23 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The company’s revenue for the quarter was up 47.1% on a year-over-year basis. Equities research analysts predict that Sina Corporation will post $2.92 EPS for the current fiscal year.

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Sina Corporation Company Profile

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.

Institutional Ownership by Quarter for Sina Corporation (NASDAQ:SINA)

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