Ellington Management Group LLC purchased a new position in Weibo Corp (NASDAQ:WB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,500 shares of the information services provider’s stock, valued at approximately $672,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NEXT Financial Group Inc raised its position in shares of Weibo by 9,900.0% in the 3rd quarter. NEXT Financial Group Inc now owns 1,000 shares of the information services provider’s stock worth $100,000 after acquiring an additional 990 shares in the last quarter. Risk Paradigm Group LLC bought a new position in shares of Weibo in the 3rd quarter worth $109,000. YorkBridge Wealth Partners LLC raised its position in shares of Weibo by 70.2% in the 4th quarter. YorkBridge Wealth Partners LLC now owns 1,801 shares of the information services provider’s stock worth $212,000 after acquiring an additional 743 shares in the last quarter. Calton & Associates Inc. purchased a new position in Weibo during the 4th quarter worth $246,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Weibo during the 4th quarter worth $203,000. 22.40% of the stock is owned by hedge funds and other institutional investors.
Weibo Corp (WB) opened at $131.13 on Wednesday. Weibo Corp has a one year low of $47.52 and a one year high of $142.12. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.23 and a current ratio of 4.22. The firm has a market capitalization of $28,908.63, a price-to-earnings ratio of 83.24 and a beta of 2.57.
Several research analysts recently weighed in on WB shares. Zacks Investment Research upgraded Weibo from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a research note on Tuesday, November 14th. Barclays boosted their target price on Weibo from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 14th. ValuEngine downgraded Weibo from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. BidaskClub downgraded Weibo from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Finally, UBS Group started coverage on Weibo in a research note on Tuesday, January 2nd. They set a “buy” rating and a $125.00 target price on the stock. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Weibo presently has a consensus rating of “Buy” and an average price target of $124.50.
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Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.
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