Matthews International Capital Management LLC Purchases New Holdings in Weibo Corporation (WB)
Matthews International Capital Management LLC purchased a new position in shares of Weibo Corporation (NASDAQ:WB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 19,220 shares of the information services provider’s stock, valued at approximately $1,278,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. William Blair Investment Management LLC purchased a new position in shares of Weibo Corporation during the 1st quarter worth approximately $56,068,000. BT Investment Management Ltd purchased a new position in shares of Weibo Corporation during the 2nd quarter worth approximately $63,749,000. Macquarie Group Ltd. boosted its position in shares of Weibo Corporation by 55,465.9% during the 1st quarter. Macquarie Group Ltd. now owns 905,168 shares of the information services provider’s stock worth $47,233,000 after purchasing an additional 903,539 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Weibo Corporation during the 1st quarter worth approximately $26,341,000. Finally, Acadian Asset Management LLC boosted its position in shares of Weibo Corporation by 30.2% during the 2nd quarter. Acadian Asset Management LLC now owns 1,707,419 shares of the information services provider’s stock worth $113,491,000 after purchasing an additional 396,281 shares during the period. Institutional investors and hedge funds own 19.58% of the company’s stock.
WB has been the subject of several recent research reports. Zacks Investment Research cut shares of Weibo Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Jefferies Group LLC reissued a “buy” rating and issued a $82.00 price target on shares of Weibo Corporation in a research report on Thursday, July 27th. BidaskClub raised shares of Weibo Corporation from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Barclays PLC set a $100.00 price target on shares of Weibo Corporation and gave the company an “overweight” rating in a research report on Friday, August 11th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $126.00 price target (up previously from $102.00) on shares of Weibo Corporation in a research report on Thursday. Nine equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $85.28.
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Shares of Weibo Corporation (WB) traded down 0.81% during midday trading on Friday, hitting $106.11. 2,066,282 shares of the stock were exchanged. Weibo Corporation has a 12-month low of $40.12 and a 12-month high of $108.30. The firm has a 50 day moving average of $92.81 and a 200 day moving average of $70.33. The firm has a market cap of $22.00 billion, a P/E ratio of 122.25 and a beta of 2.61.
Weibo Corporation (NASDAQ:WB) last announced its earnings results on Wednesday, August 9th. The information services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $253.37 million during the quarter, compared to the consensus estimate of $246.78 million. Weibo Corporation had a net margin of 23.22% and a return on equity of 24.45%. The business’s quarterly revenue was up 72.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 earnings per share. Equities analysts forecast that Weibo Corporation will post $1.63 EPS for the current fiscal year.
Weibo Corporation Profile
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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