SINA Corp (SINA) Stake Lessened by Handelsbanken Fonder AB

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Handelsbanken Fonder AB lowered its position in SINA Corp (NASDAQ:SINA) by 15.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 82,500 shares of the technology company’s stock after selling 15,000 shares during the period. Handelsbanken Fonder AB owned 0.12% of SINA worth $5,732,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlas Capital Advisors LLC acquired a new position in shares of SINA during the 2nd quarter valued at $104,000. First Hawaiian Bank bought a new stake in SINA during the 3rd quarter valued at $125,000. Financial Gravity Wealth Inc. bought a new stake in SINA during the 1st quarter valued at $131,000. Redpoint Investment Management Pty Ltd bought a new stake in SINA during the 2nd quarter valued at $202,000. Finally, XR Securities LLC bought a new stake in SINA during the 2nd quarter valued at $206,000. Hedge funds and other institutional investors own 67.00% of the company’s stock.

Shares of SINA stock opened at $59.85 on Friday. SINA Corp has a 12 month low of $57.85 and a 12 month high of $124.60. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.02 and a quick ratio of 3.02. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 28.64 and a beta of 0.95.

SINA (NASDAQ:SINA) last posted its earnings results on Wednesday, August 8th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.39. SINA had a net margin of 8.23% and a return on equity of 4.39%. The firm had revenue of $537.36 million during the quarter, compared to analyst estimates of $538.10 million. During the same quarter in the prior year, the business posted $0.70 EPS. The business’s revenue was up 49.7% compared to the same quarter last year. Analysts forecast that SINA Corp will post 2.26 EPS for the current year.

A number of analysts have commented on SINA shares. Zacks Investment Research upgraded shares of SINA from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a research note on Monday, July 30th. BidaskClub upgraded shares of SINA from a “strong sell” rating to a “sell” rating in a research note on Friday, September 21st. JPMorgan Chase & Co. started coverage on shares of SINA in a research note on Wednesday, August 29th. They set an “overweight” rating and a $150.00 price target for the company. Jefferies Financial Group restated a “buy” rating and set a $144.00 price target on shares of SINA in a research note on Thursday, July 26th. Finally, ValuEngine lowered shares of SINA from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 7th. Three equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $135.00.

About SINA

SINA Corporation, through its subsidiaries, operates as an online media company in the People's Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including multimedia news; business news coverage and personal finance columns; sporting events news; automobile-related news; entertainment news and events; technology updates; interactive video products, such as news, sports, and entertainment; and education, digital, fashion, luxury, health, collectibles, travel, and other interest-based channels.

Further Reading: Buyback

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Institutional Ownership by Quarter for SINA (NASDAQ:SINA)

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