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.

WARNING: “KBC Group NV Takes Position in Weibo Corporation (WB)” was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2017/08/27/kbc-group-nv-takes-position-in-weibo-corporation-wb.html.

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.

Institutional Ownership by Quarter for Weibo Corporation (NASDAQ:WB)

Receive News & Stock Ratings for Weibo Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weibo Corporation and related stocks with our FREE daily email newsletter.