The Manufacturers Life Insurance Company Has $48.76 Million Holdings in Sina Corporation (SINA)
The Manufacturers Life Insurance Company boosted its stake in Sina Corporation (NASDAQ:SINA) by 39.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 573,821 shares of the technology company’s stock after purchasing an additional 161,424 shares during the period. The Manufacturers Life Insurance Company owned about 0.81% of Sina Corporation worth $48,757,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can grew its position in shares of Sina Corporation by 11.7% in the 2nd quarter. Bank of Montreal Can now owns 1,452 shares of the technology company’s stock worth $123,000 after buying an additional 152 shares during the last quarter. US Bancorp DE grew its position in shares of Sina Corporation by 55.1% in the 2nd quarter. US Bancorp DE now owns 1,501 shares of the technology company’s stock worth $127,000 after buying an additional 533 shares during the last quarter. Bronfman E.L. Rothschild L.P. bought a new stake in shares of Sina Corporation in the 2nd quarter worth approximately $136,000. Nomura Asset Management Co. Ltd. grew its position in shares of Sina Corporation by 11.0% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,330 shares of the technology company’s stock worth $168,000 after buying an additional 230 shares during the last quarter. Finally, ETF Managers Group LLC bought a new stake in shares of Sina Corporation in the 2nd quarter worth approximately $180,000. 66.91% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on SINA shares. Citigroup Inc. lifted their price target on Sina Corporation to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. BidaskClub upgraded Sina Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. Zacks Investment Research lowered Sina Corporation from a “hold” rating to a “strong sell” rating in a research report on Monday, August 14th. Jefferies Group LLC restated a “buy” rating on shares of Sina Corporation in a research report on Friday, August 11th. Finally, Bank of America Corporation restated a “buy” rating and set a $119.00 price target (up from $112.00) on shares of Sina Corporation in a research report on Thursday, August 10th. One 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 issued a strong buy rating to the company. Sina Corporation has an average rating of “Buy” and a consensus price target of $104.08.
Shares of Sina Corporation (NASDAQ SINA) traded down 0.37% on Thursday, reaching $113.51. The company’s stock had a trading volume of 154,761 shares. The firm has a 50-day moving average price of $111.43 and a 200 day moving average price of $93.23. Sina Corporation has a one year low of $60.46 and a one year high of $119.20. The firm has a market capitalization of $8.08 billion, a PE ratio of 37.17 and a beta of 1.16.
Sina Corporation (NASDAQ:SINA) last posted its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.27. The firm had revenue of $358.93 million during 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 quarter last year, the firm earned $0.27 EPS. On average, analysts anticipate that Sina Corporation will post $2.92 earnings per share for the current fiscal year.
Sina Corporation 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.
Want to see what other hedge funds are holding SINA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sina Corporation (NASDAQ:SINA).
Receive News & Ratings for Sina Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sina Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.