Renaissance Technologies LLC acquired a new stake in Sina Corporation (NASDAQ:SINA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 619,100 shares of the technology company’s stock, valued at approximately $52,605,000. Renaissance Technologies LLC owned 0.87% of Sina Corporation at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in shares of Sina Corporation by 11.7% in the second quarter. Bank of Montreal Can now owns 1,452 shares of the technology company’s stock valued at $123,000 after buying an additional 152 shares during the period. US Bancorp DE increased its stake in shares of Sina Corporation by 55.1% in the second quarter. US Bancorp DE now owns 1,501 shares of the technology company’s stock valued at $127,000 after buying an additional 533 shares during the period. Bronfman E.L. Rothschild L.P. acquired a new position in shares of Sina Corporation in the second quarter valued at approximately $136,000. Nomura Asset Management Co. Ltd. increased its stake in shares of Sina Corporation by 11.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 2,330 shares of the technology company’s stock valued at $168,000 after buying an additional 230 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Sina Corporation in the first quarter valued at approximately $216,000. 66.99% of the stock is owned by institutional investors.

Shares of Sina Corporation (NASDAQ:SINA) opened at 114.65 on Friday. Sina Corporation has a 52-week low of $60.46 and a 52-week high of $118.85. The firm’s 50-day moving average is $103.62 and its 200-day moving average is $88.29. The firm has a market cap of $8.16 billion, a P/E ratio of 37.54 and a beta of 1.18.

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

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Several research analysts have recently issued reports on the company. Zacks Investment Research downgraded Sina Corporation from a “hold” rating to a “strong sell” rating in a research note on Monday, August 14th. Jefferies Group LLC reissued a “buy” rating on shares of Sina Corporation in a research report on Friday, August 11th. Bank of America Corporation reissued a “buy” rating and set a $119.00 target price (up previously from $112.00) on shares of Sina Corporation in a research report on Thursday, August 10th. Citigroup Inc. increased their target price on shares of Sina Corporation to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. Finally, BidaskClub raised shares of Sina Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. One equities 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 given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $101.74.

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.

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

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