Matthews International Capital Management LLC lowered its stake in shares of Sina Corporation (NASDAQ:SINA) by 11.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 192,200 shares of the technology company’s stock after selling 25,800 shares during the period. Sina Corporation comprises 0.7% of Matthews International Capital Management LLC’s portfolio, making the stock its 21st largest holding. Matthews International Capital Management LLC owned 0.27% of Sina Corporation worth $16,331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SINA. BlackRock Inc. boosted its holdings in Sina Corporation by 1,354.9% during the first quarter. BlackRock Inc. now owns 2,502,738 shares of the technology company’s stock worth $180,498,000 after buying an additional 2,702,176 shares in the last quarter. Platinum Investment Management Ltd. boosted its holdings in Sina Corporation by 27.8% during the first quarter. Platinum Investment Management Ltd. now owns 2,912,881 shares of the technology company’s stock worth $210,076,000 after buying an additional 632,879 shares in the last quarter. Green Court Capital Management Ltd purchased a new stake in Sina Corporation during the second quarter worth about $51,607,000. William Blair Investment Management LLC purchased a new stake in Sina Corporation during the first quarter worth about $31,895,000. Finally, Neuberger Berman Group LLC boosted its holdings in Sina Corporation by 141.0% during the first quarter. Neuberger Berman Group LLC now owns 696,037 shares of the technology company’s stock worth $50,198,000 after buying an additional 407,189 shares in the last quarter. 67.01% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently commented on the stock. Jefferies Group LLC reissued a “buy” rating on shares of Sina Corporation in a report on Friday, August 11th. Citigroup Inc. boosted their price objective on shares of Sina Corporation to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. Bank of America Corporation reissued a “buy” rating and set a $119.00 price objective (up previously from $112.00) on shares of Sina Corporation in a report on Thursday, August 10th. Zacks Investment Research downgraded shares of Sina Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, August 14th. Finally, BidaskClub raised shares of Sina Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Sina Corporation has an average rating of “Buy” and an average price target of $101.74.

Shares of Sina Corporation (NASDAQ:SINA) traded down 0.93% during trading on Friday, reaching $116.33. 2,928,781 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $102.40 and its 200 day moving average price is $87.36. Sina Corporation has a 52 week low of $60.46 and a 52 week high of $118.13. The firm has a market capitalization of $8.28 billion, a PE ratio of 38.09 and a beta of 1.18.

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, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.27. Sina Corporation had a net margin of 18.64% and a return on equity of 6.58%. The company had revenue of $358.93 million during the quarter, compared to analyst estimates of $344.23 million. During the same quarter last year, the firm posted $0.27 EPS. The business’s revenue for the quarter was up 47.1% on a year-over-year basis. Analysts predict that Sina Corporation will post $2.92 EPS for the current fiscal year.

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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.

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Institutional Ownership by Quarter for Sina Corporation (NASDAQ:SINA)

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