KBC Group NV Takes Position in Weibo Corporation (WB)
KBC Group NV purchased a new position in shares of Weibo Corporation (NASDAQ:WB) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 43,550 shares of the information services provider’s stock, valued at approximately $2,895,000.
Several other hedge funds have also modified their holdings of WB. William Blair Investment Management LLC acquired a new stake in shares of Weibo Corporation during the first quarter worth about $56,068,000. Macquarie Group Ltd. increased its stake in shares of Weibo Corporation by 55,465.9% in the first quarter. Macquarie Group Ltd. now owns 905,168 shares of the information services provider’s stock worth $47,233,000 after buying an additional 903,539 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of Weibo Corporation during the first quarter worth about $26,341,000. Acadian Asset Management LLC increased its stake in shares of Weibo Corporation by 30.2% in the second quarter. Acadian Asset Management LLC now owns 1,707,419 shares of the information services provider’s stock worth $113,491,000 after buying an additional 396,281 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its stake in shares of Weibo Corporation by 157.3% in the first quarter. Harvest Fund Management Co. Ltd now owns 401,489 shares of the information services provider’s stock worth $20,950,000 after buying an additional 245,467 shares during the period. Hedge funds and other institutional investors own 16.58% of the company’s stock.
Weibo Corporation (NASDAQ:WB) opened at 95.99 on Friday. Weibo Corporation has a one year low of $40.12 and a one year high of $99.80.
Weibo Corporation (NASDAQ:WB) last released its quarterly earnings results on Wednesday, August 9th. The information services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Weibo Corporation had a return on equity of 24.45% and a net margin of 23.22%. The company had revenue of $253.37 million for the quarter, compared to analysts’ expectations of $246.78 million. During the same period in the prior year, the firm earned $0.16 earnings per share. The firm’s revenue was up 72.5% compared to the same quarter last year. Equities research analysts predict that Weibo Corporation will post $1.63 earnings per share for the current fiscal year.
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A number of analysts have recently issued reports on WB shares. Zacks Investment Research downgraded Weibo Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, May 3rd. Jefferies Group LLC reiterated a “buy” rating and set a $82.00 price target on shares of Weibo Corporation in a research report on Thursday, July 27th. T.H. Capital reissued a “buy” rating and set a $70.00 price objective (up from $60.00) on shares of Weibo Corporation in a report on Tuesday, May 9th. BidaskClub raised Weibo Corporation from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Finally, Barclays PLC reissued an “overweight” rating and set a $85.00 price objective (up from $66.00) on shares of Weibo Corporation in a report on Wednesday, May 17th. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Weibo Corporation has an average rating of “Buy” and an average price target of $79.06.
About Weibo Corporation
Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.
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