SINA Corp (SINA) Sees Large Decline in Short Interest
SINA Corp (NASDAQ:SINA) saw a large decline in short interest during the month of December. As of December 29th, there was short interest totalling 611,002 shares, a decline of 38.4% from the December 15th total of 992,441 shares. Based on an average trading volume of 472,438 shares, the short-interest ratio is currently 1.3 days. Approximately 1.0% of the company’s shares are sold short.
Several hedge funds have recently added to or reduced their stakes in SINA. Koch Industries Inc. acquired a new stake in shares of SINA during the 2nd quarter worth $1,385,000. Renaissance Technologies LLC acquired a new stake in shares of SINA during the 2nd quarter worth $52,605,000. Alkeon Capital Management LLC increased its holdings in shares of SINA by 29.3% during the 3rd quarter. Alkeon Capital Management LLC now owns 2,706,876 shares of the technology company’s stock worth $310,343,000 after buying an additional 614,000 shares during the last quarter. Platinum Investment Management Ltd. increased its holdings in shares of SINA by 14.9% during the 2nd quarter. Platinum Investment Management Ltd. now owns 3,348,101 shares of the technology company’s stock worth $284,488,000 after buying an additional 435,220 shares during the last quarter. Finally, State of Wisconsin Investment Board increased its holdings in shares of SINA by 79.4% during the 3rd quarter. State of Wisconsin Investment Board now owns 747,500 shares of the technology company’s stock worth $85,701,000 after buying an additional 330,800 shares during the last quarter. Institutional investors and hedge funds own 69.40% of the company’s stock.
Shares of SINA (NASDAQ:SINA) opened at $118.96 on Thursday. The company has a market capitalization of $8,510.00, a price-to-earnings ratio of 67.59 and a beta of 0.99. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.04. SINA has a twelve month low of $66.40 and a twelve month high of $119.60.
SINA (NASDAQ:SINA) last released its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.26. The business had revenue of $440.50 million during the quarter, compared to the consensus estimate of $404.71 million. SINA had a return on equity of 3.36% and a net margin of 9.41%. The business’s revenue for the quarter was up 60.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.56 EPS. research analysts predict that SINA will post 2.13 earnings per share for the current year.
Several research analysts have weighed in on the company. BidaskClub downgraded SINA from a “hold” rating to a “sell” rating in a report on Saturday, December 2nd. Zacks Investment Research downgraded SINA from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Finally, Benchmark boosted their price target on SINA from $142.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. SINA has a consensus rating of “Buy” and a consensus price target of $120.67.
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SINA Company 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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