ETF Managers Group LLC bought a new position in shares of Sina Corporation (NASDAQ:SINA) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,121 shares of the technology company’s stock, valued at approximately $180,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of Montreal Can increased its stake in Sina Corporation by 11.7% during the 2nd quarter. Bank of Montreal Can now owns 1,452 shares of the technology company’s stock worth $123,000 after purchasing an additional 152 shares in the last quarter. US Bancorp DE grew its stake in shares of Sina Corporation by 55.1% during the 2nd quarter. US Bancorp DE now owns 1,501 shares of the technology company’s stock worth $127,000 after acquiring an additional 533 shares in the last quarter. Bronfman E.L. Rothschild L.P. bought a new position in shares of Sina Corporation during the 2nd quarter worth approximately $136,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Sina Corporation by 11.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,330 shares of the technology company’s stock worth $168,000 after acquiring an additional 230 shares in the last quarter. Finally, Doliver Capital Advisors LP bought a new position in shares of Sina Corporation during the 2nd quarter worth approximately $242,000. 66.91% of the stock is owned by institutional investors and hedge funds.

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Shares of Sina Corporation (NASDAQ:SINA) traded down 0.67% during midday trading on Friday, reaching $115.27. The company’s stock had a trading volume of 1,017,256 shares. Sina Corporation has a one year low of $60.46 and a one year high of $119.20. The firm has a 50-day moving average of $110.25 and a 200-day moving average of $92.17. The stock has a market cap of $8.21 billion, a PE ratio of 37.74 and a beta of 1.16.

Sina Corporation (NASDAQ:SINA) last announced its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.27. The firm had revenue of $358.93 million during the quarter, compared to the consensus estimate of $344.23 million. Sina Corporation had a return on equity of 6.58% and a net margin of 18.64%. The business’s revenue for the quarter was up 47.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. On average, analysts forecast that Sina Corporation will post $2.95 EPS for the current year.

Several equities analysts have recently weighed in on the stock. BidaskClub cut shares of Sina Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Sina Corporation in a research note on Friday, August 11th. Citigroup Inc. raised their price target on shares of Sina Corporation to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. Zacks Investment Research cut shares of Sina Corporation from a “hold” rating to a “strong sell” rating in a research note on Monday, August 14th. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Sina Corporation in a research note on Friday, June 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $104.08.

Sina Corporation Profile

Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.

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Institutional Ownership by Quarter for Sina Corporation (NASDAQ:SINA)

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