Causeway Capital Management LLC Has $36.61 Million Holdings in Weibo Corporation $WB

Causeway Capital Management LLC boosted its position in Weibo Corporation (NASDAQ:WB) by 11.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,952,249 shares of the information services provider’s stock after purchasing an additional 308,531 shares during the period. Causeway Capital Management LLC’s holdings in Weibo were worth $36,608,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WB. AQR Capital Management LLC bought a new stake in Weibo in the first quarter worth approximately $117,000. Fox Run Management L.L.C. bought a new position in shares of Weibo during the second quarter valued at about $136,000. Campbell & CO Investment Adviser LLC purchased a new position in Weibo during the second quarter worth about $1,412,000. Vise Technologies Inc. bought a new stake in Weibo in the 2nd quarter worth about $179,000. Finally, Quinn Opportunity Partners LLC increased its stake in Weibo by 1.5% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 692,195 shares of the information services provider’s stock valued at $6,597,000 after buying an additional 10,000 shares during the last quarter. 68.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weibo in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.00.

Weibo Stock Performance

NASDAQ:WB opened at $9.64 on Tuesday. Weibo Corporation has a 1 year low of $7.10 and a 1 year high of $12.96. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.35 and a quick ratio of 3.35. The business has a fifty day simple moving average of $10.36 and a two-hundred day simple moving average of $10.84. The company has a market capitalization of $2.35 billion, a P/E ratio of 5.48, a P/E/G ratio of 5.11 and a beta of 0.13.

Weibo Company Profile

Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.

Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.