Renaissance Technologies LLC cut its stake in SINA Corp (NASDAQ:SINA) by 76.3% in the second quarter, Holdings Channel reports. The fund owned 211,700 shares of the technology company’s stock after selling 679,816 shares during the quarter. Renaissance Technologies LLC’s holdings in SINA were worth $17,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atlas Capital Advisors LLC purchased a new stake in SINA in the second quarter valued at $104,000. Financial Gravity Wealth Inc. purchased a new stake in SINA in the first quarter valued at $131,000. Redpoint Investment Management Pty Ltd purchased a new stake in SINA in the second quarter valued at $202,000. XR Securities LLC purchased a new stake in SINA in the second quarter valued at $206,000. Finally, PNC Financial Services Group Inc. lifted its position in SINA by 44.8% in the second quarter. PNC Financial Services Group Inc. now owns 2,626 shares of the technology company’s stock valued at $222,000 after acquiring an additional 813 shares during the last quarter. 67.00% of the stock is owned by hedge funds and other institutional investors.

SINA has been the subject of a number of research reports. Zacks Investment Research cut shares of SINA from a “hold” rating to a “strong sell” rating in a research report on Friday, September 7th. ValuEngine cut shares of SINA from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 7th. JPMorgan Chase & Co. initiated coverage on shares of SINA in a research report on Wednesday, August 29th. They issued an “overweight” rating and a $150.00 price target for the company. BidaskClub raised shares of SINA from a “strong sell” rating to a “sell” rating in a research report on Friday, September 21st. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $144.00 price target on shares of SINA in a research report on Thursday, July 26th. Three research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. SINA presently has a consensus rating of “Hold” and an average price target of $135.00.

Shares of NASDAQ:SINA opened at $70.06 on Thursday. SINA Corp has a one year low of $63.20 and a one year high of $124.60. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.02 and a quick ratio of 3.02. The stock has a market capitalization of $4.90 billion, a PE ratio of 33.52 and a beta of 0.96.

SINA (NASDAQ:SINA) last announced its earnings results on Wednesday, August 8th. The technology company reported $0.89 EPS for the quarter, beating 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 business had revenue of $537.36 million during the quarter, compared to analysts’ expectations of $538.10 million. During the same period in the prior year, the company earned $0.70 earnings per share. The business’s revenue was up 49.7% compared to the same quarter last year. sell-side analysts predict that SINA Corp will post 2.3 EPS for the current year.

SINA 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.

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Institutional Ownership by Quarter for SINA (NASDAQ:SINA)

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