Sina Corporation (SINA) Stake Lifted by Clinton Group Inc.
Clinton Group Inc. lifted its holdings in shares of Sina Corporation (NASDAQ:SINA) by 16.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,671 shares of the technology company’s stock after purchasing an additional 7,344 shares during the quarter. Clinton Group Inc. owned 0.07% of Sina Corporation worth $4,475,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas grew its holdings in shares of Sina Corporation by 0.4% during the first quarter. Teacher Retirement System of Texas now owns 4,583 shares of the technology company’s stock worth $331,000 after purchasing an additional 18 shares in the last quarter. World Asset Management Inc grew its holdings in shares of Sina Corporation by 1.2% during the first quarter. World Asset Management Inc now owns 4,401 shares of the technology company’s stock worth $317,000 after purchasing an additional 52 shares in the last quarter. Comerica Bank grew its holdings in shares of Sina Corporation by 1.4% during the first quarter. Comerica Bank now owns 4,063 shares of the technology company’s stock worth $312,000 after purchasing an additional 55 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Sina Corporation by 11.7% during the second quarter. Bank of Montreal Can now owns 1,452 shares of the technology company’s stock worth $123,000 after purchasing an additional 152 shares in the last quarter. Finally, Cadence Capital Management LLC grew its holdings in shares of Sina Corporation by 1.6% during the second quarter. Cadence Capital Management LLC now owns 10,000 shares of the technology company’s stock worth $850,000 after purchasing an additional 160 shares in the last quarter. 66.99% of the stock is owned by institutional investors.
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Sina Corporation (NASDAQ:SINA) traded up 1.05% during mid-day trading on Friday, hitting $114.65. The stock had a trading volume of 573,903 shares. Sina Corporation has a 12 month low of $60.46 and a 12 month high of $118.85. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 37.54 and a beta of 1.18. The stock’s 50-day moving average price is $103.62 and its 200-day moving average price is $88.29.
Sina Corporation (NASDAQ:SINA) last announced its 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 firm had revenue of $358.93 million during the quarter, compared to analysts’ expectations of $344.23 million. Sina Corporation had a return on equity of 6.58% and a net margin of 18.64%. The company’s quarterly revenue was up 47.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 EPS. On average, analysts predict that Sina Corporation will post $2.95 earnings per share for the current year.
Several research analysts have recently commented on SINA shares. Jefferies Group LLC reissued a “buy” rating and set a $122.00 price objective on shares of Sina Corporation in a report on Friday, July 14th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Sina Corporation in a research note on Friday, June 23rd. BidaskClub lowered Sina Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research lowered Sina Corporation from a “hold” rating to a “strong sell” rating in a research note on Monday, August 14th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $119.00 target price (up previously from $112.00) on shares of Sina Corporation in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $101.74.
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.
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