BlueMountain Capital Management LLC increased its stake in Sina Corporation (NASDAQ:SINA) by 213.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,078 shares of the technology company’s stock after purchasing an additional 14,353 shares during the period. BlueMountain Capital Management LLC’s holdings in Sina Corporation were worth $1,791,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SINA. BlackRock Inc. lifted its holdings in shares of Sina Corporation by 1,354.9% in the 1st quarter. BlackRock Inc. now owns 2,502,738 shares of the technology company’s stock worth $180,498,000 after purchasing an additional 2,702,176 shares during the last quarter. Platinum Investment Management Ltd. lifted its holdings in shares of Sina Corporation by 27.8% in the 1st quarter. Platinum Investment Management Ltd. now owns 2,912,881 shares of the technology company’s stock worth $210,076,000 after purchasing an additional 632,879 shares during the last quarter. Green Court Capital Management Ltd bought a new stake in shares of Sina Corporation in the 2nd quarter worth approximately $51,607,000. William Blair Investment Management LLC bought a new stake in shares of Sina Corporation in the 1st quarter worth approximately $31,895,000. Finally, Neuberger Berman Group LLC lifted its holdings in shares of Sina Corporation by 141.0% in the 1st quarter. Neuberger Berman Group LLC now owns 696,037 shares of the technology company’s stock worth $50,198,000 after purchasing an additional 407,189 shares during the last quarter. 66.99% of the stock is currently owned by institutional investors and hedge funds.

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Several analysts recently issued reports on the company. Citigroup Inc. raised their price target on Sina Corporation to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Sina Corporation in a research note on Friday, June 23rd. Bank of America Corporation reaffirmed a “buy” rating and set a $119.00 target price (up previously from $112.00) on shares of Sina Corporation in a research note on Thursday, August 10th. BidaskClub raised Sina Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $122.00 target price on shares of Sina Corporation in a research note on Tuesday, May 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $101.74.

Shares of Sina Corporation (NASDAQ:SINA) opened at 115.06 on Tuesday. The company has a market cap of $8.19 billion, a P/E ratio of 37.68 and a beta of 1.18. Sina Corporation has a 52 week low of $60.46 and a 52 week high of $118.85. The firm’s 50-day moving average price is $102.99 and its 200 day moving average price is $87.95.

Sina Corporation (NASDAQ:SINA) last released its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.27. The business had revenue of $358.93 million for the quarter, compared to analyst estimates of $344.23 million. Sina Corporation had a return on equity of 6.58% and a net margin of 18.64%. Sina Corporation’s revenue for the quarter was up 47.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.27 EPS. On average, equities analysts predict that Sina Corporation will post $2.92 EPS for the current fiscal year.

About Sina Corporation

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.

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

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