Canada Pension Plan Investment Board boosted its position in shares of SINA Corp (NASDAQ:SINA) by 81,500.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 32,640 shares of the technology company’s stock after acquiring an additional 32,600 shares during the period. Canada Pension Plan Investment Board’s holdings in SINA were worth $2,764,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Trexquant Investment LP boosted its position in SINA by 32.3% during the second quarter. Trexquant Investment LP now owns 70,103 shares of the technology company’s stock worth $5,937,000 after acquiring an additional 17,124 shares during the last quarter. SG Americas Securities LLC boosted its position in SINA by 196.9% during the second quarter. SG Americas Securities LLC now owns 63,437 shares of the technology company’s stock worth $5,372,000 after acquiring an additional 42,074 shares during the last quarter. Bank of New York Mellon Corp boosted its position in SINA by 8.3% during the second quarter. Bank of New York Mellon Corp now owns 76,204 shares of the technology company’s stock worth $6,454,000 after acquiring an additional 5,870 shares during the last quarter. River & Mercantile Asset Management LLP boosted its position in SINA by 89.0% during the second quarter. River & Mercantile Asset Management LLP now owns 53,300 shares of the technology company’s stock worth $4,514,000 after acquiring an additional 25,100 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in SINA by 248.9% during the second quarter. Teacher Retirement System of Texas now owns 8,866 shares of the technology company’s stock worth $751,000 after acquiring an additional 6,325 shares during the last quarter. Institutional investors own 67.09% of the company’s stock.

Shares of SINA stock opened at $70.37 on Wednesday. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.24. SINA Corp has a 12 month low of $67.47 and a 12 month high of $124.60. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of 33.67 and a beta of 0.97.

SINA (NASDAQ:SINA) last issued its earnings results on Wednesday, August 8th. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.39. SINA had a net margin of 8.23% and a return on equity of 4.39%. The company had revenue of $537.36 million for the quarter, compared to the consensus estimate of $538.10 million. During the same period in the previous year, the firm earned $0.70 earnings per share. SINA’s quarterly revenue was up 49.7% compared to the same quarter last year. research analysts anticipate that SINA Corp will post 2.7 EPS for the current fiscal year.

A number of equities analysts recently weighed in 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 on the stock in a research report on Monday, July 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a $144.00 target price on shares of SINA in a research note on Thursday, July 26th. ValuEngine downgraded shares of SINA from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 7th. Benchmark reaffirmed a “buy” rating and set a $159.00 target price on shares of SINA in a research note on Thursday, May 10th. They noted that the move was a valuation call. Finally, 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 target price on the stock. Two investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $135.00.

SINA Company Profile

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.

See Also: Hedge Funds – Risk or Reward?

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Institutional Ownership by Quarter for SINA (NASDAQ:SINA)

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