Sina Corporation (SINA) Position Boosted by Eqis Capital Management Inc.
Eqis Capital Management Inc. increased its position in shares of Sina Corporation (NASDAQ:SINA) by 26.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,031 shares of the technology company’s stock after purchasing an additional 2,917 shares during the period. Eqis Capital Management Inc.’s holdings in Sina Corporation were worth $1,609,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its stake in shares of Sina Corporation by 11.7% during the 2nd 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 during the period. US Bancorp DE boosted its stake in shares of Sina Corporation by 55.1% during the 2nd quarter. US Bancorp DE now owns 1,501 shares of the technology company’s stock worth $127,000 after purchasing an additional 533 shares during the period. Bronfman E.L. Rothschild L.P. purchased a new position in shares of Sina Corporation during the 2nd quarter worth about $136,000. ETF Managers Group LLC purchased a new position in shares of Sina Corporation during the 2nd quarter worth about $180,000. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Sina Corporation by 11.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,330 shares of the technology company’s stock worth $168,000 after purchasing an additional 230 shares during the period. 66.83% of the stock is owned by hedge funds and other institutional investors.
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Sina Corporation (NASDAQ:SINA) traded down 2.833% during midday trading on Thursday, reaching $111.635. 295,941 shares of the company’s stock traded hands. Sina Corporation has a 1-year low of $60.46 and a 1-year high of $119.20. The firm’s 50-day moving average is $113.46 and its 200-day moving average is $94.76. The company has a market capitalization of $7.95 billion, a price-to-earnings ratio of 36.554 and a beta of 1.16.
Sina Corporation (NASDAQ:SINA) last released its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $358.93 million during the quarter, compared to analysts’ expectations of $344.23 million. During the same period last year, the business earned $0.27 earnings per share. Sina Corporation’s revenue was up 47.1% compared to the same quarter last year. Analysts forecast that Sina Corporation will post $2.92 earnings per share for the current year.
SINA has been the subject of a number of recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating on shares of Sina Corporation in a research note on Friday, August 11th. Bank of America Corporation reaffirmed a “buy” rating and set a $119.00 price target (up from $112.00) on shares of Sina Corporation in a research note on Thursday, August 10th. Citigroup Inc. lifted their price target on shares of Sina Corporation to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. BidaskClub cut shares of Sina Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Sina Corporation in a research note on Friday, June 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $104.08.
Sina Corporation 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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