SINA Corp (SINA) Sees Large Increase in Short Interest
SINA Corp (NASDAQ:SINA) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 970,653 shares, a growth of 54.4% from the February 15th total of 628,669 shares. Based on an average daily volume of 721,780 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.6% of the shares of the company are short sold.
Several equities research analysts have recently commented on the stock. BidaskClub lowered shares of SINA from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. Deutsche Bank cut shares of SINA from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Benchmark upped their target price on shares of SINA from $96.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Zacks Investment Research cut shares of SINA from a “buy” rating to a “hold” rating in a report on Thursday, February 21st. Finally, Credit Suisse Group assumed coverage on shares of SINA in a report on Monday, February 4th. They set a “neutral” rating and a $58.50 target price for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. SINA presently has an average rating of “Hold” and an average target price of $100.08.
Shares of SINA opened at $58.09 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.91 and a quick ratio of 2.99. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 34.17 and a beta of 1.11. SINA has a 52 week low of $51.76 and a 52 week high of $119.68.
A number of institutional investors have recently added to or reduced their stakes in the stock. Genesis Asset Managers LLP purchased a new stake in shares of SINA in the fourth quarter worth $188,299,000. Macquarie Group Ltd. increased its stake in shares of SINA by 5.5% in the third quarter. Macquarie Group Ltd. now owns 3,493,769 shares of the technology company’s stock worth $242,747,000 after purchasing an additional 183,000 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of SINA by 1.1% in the third quarter. Vanguard Group Inc. now owns 2,166,221 shares of the technology company’s stock worth $150,509,000 after purchasing an additional 22,730 shares in the last quarter. Vanguard Group Inc increased its stake in shares of SINA by 1.1% in the third quarter. Vanguard Group Inc now owns 2,166,221 shares of the technology company’s stock worth $150,509,000 after purchasing an additional 22,730 shares in the last quarter. Finally, Fosun International Ltd increased its stake in shares of SINA by 4.2% in the fourth quarter. Fosun International Ltd now owns 1,931,776 shares of the technology company’s stock worth $103,620,000 after purchasing an additional 78,485 shares in the last quarter. 64.80% of the stock is owned by institutional investors.
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SINA Corporation, through its subsidiaries, operates as an online media company in the People's Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including multimedia news; business news coverage and personal finance columns; sporting events news; automobile-related news; entertainment news and events; technology updates; interactive video products, such as news, sports, and entertainment; and education, digital, fashion, luxury, health, collectibles, travel, and other interest-based channels.
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