Acadian Asset Management LLC Lowers Position in Weibo Corporation $WB

Acadian Asset Management LLC cut its stake in Weibo Corporation (NASDAQ:WB) by 0.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 5,965,288 shares of the information services provider’s stock after selling 4,745 shares during the quarter. Acadian Asset Management LLC’s holdings in Weibo were worth $56,471,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Caxton Associates LLP purchased a new stake in shares of Weibo in the first quarter worth approximately $1,139,000. AQR Capital Management LLC purchased a new stake in shares of Weibo in the first quarter worth approximately $117,000. Hhlr Advisors LTD. purchased a new stake in shares of Weibo in the first quarter worth approximately $947,000. Resolute Advisors LLC purchased a new stake in shares of Weibo in the first quarter worth approximately $208,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Weibo in the first quarter worth approximately $656,000. 68.77% of the stock is owned by hedge funds and other institutional investors.

Weibo Stock Performance

Shares of Weibo stock opened at $12.18 on Thursday. The business’s fifty day simple moving average is $10.57 and its 200 day simple moving average is $9.69. The firm has a market capitalization of $2.95 billion, a P/E ratio of 8.52 and a beta of 0.08. Weibo Corporation has a 12 month low of $7.10 and a 12 month high of $12.40. The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 0.31.

Weibo (NASDAQ:WB) last released its earnings results on Thursday, August 14th. The information services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.27. Weibo had a return on equity of 12.65% and a net margin of 21.10%.The business had revenue of $444.80 million during the quarter, compared to the consensus estimate of $438.84 million. During the same period last year, the business posted $0.48 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, analysts anticipate that Weibo Corporation will post 1.62 EPS for the current year.

Analysts Set New Price Targets

Separately, Citigroup lifted their price target on Weibo from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, August 15th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.00.

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.