333,909 Shares in Sina Corp. (SINA) Acquired by Ariose Capital Management Ltd
Ariose Capital Management Ltd acquired a new position in shares of Sina Corp. (NASDAQ:SINA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 333,909 shares of the company’s stock, valued at approximately $17,320,000. Sina Corp. comprises approximately 17.5% of Ariose Capital Management Ltd’s investment portfolio, making the stock its 3rd largest position. Ariose Capital Management Ltd owned 0.48% of Sina Corp. as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Commonwealth Equity Services Inc increased its stake in shares of Sina Corp. by 1.7% in the first quarter. Commonwealth Equity Services Inc now owns 9,094 shares of the company’s stock worth $431,000 after buying an additional 149 shares during the period. BlackRock Group LTD increased its stake in shares of Sina Corp. by 10.5% in the first quarter. BlackRock Group LTD now owns 37,781 shares of the company’s stock worth $1,790,000 after buying an additional 3,599 shares during the period. Contrarius Investment Management Ltd increased its stake in shares of Sina Corp. by 25.8% in the first quarter. Contrarius Investment Management Ltd now owns 161,298 shares of the company’s stock worth $7,641,000 after buying an additional 33,045 shares during the period. Pictet Asset Management Ltd. bought a new stake in shares of Sina Corp. during the first quarter worth about $3,513,000. Finally, Geode Capital Management LLC increased its stake in shares of Sina Corp. by 9.7% in the first quarter. Geode Capital Management LLC now owns 22,943 shares of the company’s stock worth $1,086,000 after buying an additional 2,038 shares during the period. Institutional investors and hedge funds own 58.88% of the company’s stock.
Shares of Sina Corp. (NASDAQ:SINA) traded up 3.55% during mid-day trading on Monday, reaching $76.45. The company’s stock had a trading volume of 1,490,550 shares. The stock has a 50 day moving average of $75.32 and a 200-day moving average of $57.17. Sina Corp. has a one year low of $39.58 and a one year high of $85.24. The stock has a market cap of $5.36 billion, a P/E ratio of 61.90 and a beta of 1.39.
Sina Corp. (NASDAQ:SINA) last issued its earnings results on Monday, August 8th. The company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.12. The business had revenue of $244 million for the quarter, compared to analysts’ expectations of $231.09 million. Sina Corp. had a return on equity of 0.32% and a net margin of 8.97%. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 EPS. On average, equities research analysts expect that Sina Corp. will post $1.09 EPS for the current fiscal year.
Several equities research analysts have recently weighed in on the company. Brean Capital reiterated a “buy” rating on shares of Sina Corp. in a report on Tuesday, June 7th. Zacks Investment Research upgraded Sina Corp. from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Tuesday, June 28th. Jefferies Group upgraded Sina Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Friday, July 22nd. Citigroup Inc. assumed coverage on Sina Corp. in a report on Friday, August 5th. They issued a “buy” rating and a $69.00 price target on the stock. Finally, TheStreet upgraded Sina Corp. to a “buy” rating in a report on Friday, August 19th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $60.14.
Sina Corp. 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.
Receive News & Stock Ratings for Sina Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sina Corp. and related stocks with our FREE daily email newsletter.