Sina Corporation (SINA) Position Lowered by Neuberger Berman Group LLC
Neuberger Berman Group LLC decreased its holdings in Sina Corporation (NASDAQ:SINA) by 99.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,894 shares of the technology company’s stock after selling 689,143 shares during the quarter. Neuberger Berman Group LLC’s holdings in Sina Corporation were worth $586,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Bank of Montreal Can lifted 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 worth $123,000 after acquiring an additional 152 shares in the last quarter. US Bancorp DE lifted 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 worth $127,000 after acquiring an additional 533 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted 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 worth $168,000 after acquiring an additional 230 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Sina Corporation by 117.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 2,887 shares of the technology company’s stock worth $1,177,000 after acquiring an additional 1,561 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Sina Corporation in the first quarter worth about $216,000. Institutional investors and hedge funds own 66.99% of the company’s stock.
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Several research analysts recently commented on SINA shares. Jefferies Group LLC reiterated a “buy” rating and issued a $122.00 price target on shares of Sina Corporation in a research note on Friday, July 14th. Bank of America Corporation reissued a “buy” rating and issued a $119.00 price objective (up from $112.00) on shares of Sina Corporation in a report on Thursday, August 10th. Stifel Nicolaus reissued a “hold” rating on shares of Sina Corporation in a report on Friday, June 23rd. Zacks Investment Research lowered Sina Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, August 14th. Finally, Citigroup Inc. boosted their price objective on Sina Corporation to $140.00 and gave the company a “buy” rating in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Sina Corporation presently has an average rating of “Buy” and a consensus target price of $101.74.
Sina Corporation (NASDAQ:SINA) opened at 115.41 on Friday. The stock’s 50 day moving average price is $103.62 and its 200 day moving average price is $88.29. Sina Corporation has a 12-month low of $60.46 and a 12-month high of $118.85. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 37.79 and a beta of 1.18.
Sina Corporation (NASDAQ:SINA) last released its earnings results on Wednesday, August 9th. The technology company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.27. Sina Corporation had a net margin of 18.64% and a return on equity of 6.58%. The business had revenue of $358.93 million during the quarter, compared to analysts’ expectations of $344.23 million. During the same quarter last year, the company earned $0.27 earnings per share. The firm’s revenue was up 47.1% on a year-over-year basis. On average, equities research analysts anticipate that Sina Corporation will post $2.92 earnings per share for the current fiscal year.
About Sina Corporation
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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