SINA (SINA) Rating Increased to Hold at BidaskClub
BidaskClub upgraded shares of SINA (NASDAQ:SINA) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
A number of other equities analysts have also recently issued reports on the stock. ValuEngine cut shares of SINA from a sell rating to a strong sell rating in a research note on Tuesday, August 7th. JPMorgan Chase & Co. began coverage on shares of SINA in a research note on Wednesday, August 29th. They issued an overweight rating and a $150.00 price objective for the company. Benchmark dropped their price objective on shares of SINA from $119.00 to $96.00 and set a buy rating for the company in a research note on Monday, November 5th. Zacks Investment Research cut shares of SINA from a hold rating to a strong sell rating in a research note on Friday, September 7th. Finally, Jefferies Financial Group restated a buy rating and issued a $89.00 price objective on shares of SINA in a research note on Tuesday, November 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $111.40.
NASDAQ:SINA opened at $62.72 on Wednesday. The firm has a market cap of $4.68 billion, a P/E ratio of 30.01 and a beta of 1.04. SINA has a one year low of $56.67 and a one year high of $124.60. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 0.24.
Several hedge funds have recently made changes to their positions in SINA. First Hawaiian Bank acquired a new position in shares of SINA in the 3rd quarter valued at $125,000. Redpoint Investment Management Pty Ltd acquired a new stake in shares of SINA during the 2nd quarter worth about $202,000. PNC Financial Services Group Inc. increased its position in shares of SINA by 44.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,626 shares of the technology company’s stock worth $222,000 after purchasing an additional 813 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD acquired a new stake in shares of SINA during the 3rd quarter worth about $244,000. Finally, Creative Planning acquired a new stake in shares of SINA during the 3rd quarter worth about $258,000. Institutional investors own 64.83% of the company’s stock.
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.
Further Reading: Quiet Period
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