SG Americas Securities LLC Sells 37,608 Shares of Weibo Co. (NASDAQ:WB)

SG Americas Securities LLC lessened its holdings in Weibo Co. (NASDAQ:WB) by 72.8% in the third quarter, Holdings Channel reports. The institutional investor owned 14,053 shares of the information services provider’s stock after selling 37,608 shares during the period. SG Americas Securities LLC’s holdings in Weibo were worth $142,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Deltec Asset Management LLC acquired a new position in Weibo in the second quarter valued at $82,000. Seven Eight Capital LP bought a new position in shares of Weibo in the 2nd quarter worth about $110,000. Bayesian Capital Management LP acquired a new position in shares of Weibo in the 1st quarter valued at about $123,000. Caxton Associates LP boosted its position in shares of Weibo by 55.9% during the 2nd quarter. Caxton Associates LP now owns 50,239 shares of the information services provider’s stock valued at $386,000 after purchasing an additional 18,008 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in Weibo by 42.1% during the second quarter. Hsbc Holdings PLC now owns 59,890 shares of the information services provider’s stock worth $460,000 after purchasing an additional 17,749 shares during the period. Institutional investors own 68.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WB shares. StockNews.com upgraded shares of Weibo from a “hold” rating to a “buy” rating in a research report on Friday. Morgan Stanley dropped their price objective on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Citigroup increased their price objective on shares of Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Nomura Securities raised Weibo to a “hold” rating in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.23.

Weibo Price Performance

WB opened at $9.27 on Friday. Weibo Co. has a 1 year low of $7.03 and a 1 year high of $12.65. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.34 and a quick ratio of 2.34. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 7.79, a P/E/G ratio of 1.56 and a beta of 0.23. The firm’s fifty day moving average price is $8.60 and its two-hundred day moving average price is $8.46.

Weibo (NASDAQ:WB) last released its quarterly earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.10. The business had revenue of $437.90 million for the quarter, compared to analysts’ expectations of $437.97 million. Weibo had a net margin of 18.52% and a return on equity of 11.01%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. As a group, analysts anticipate that Weibo Co. will post 1.48 earnings per share for the current fiscal year.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute content in the People’s Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.