Harvest Fund Management Co. Ltd Sells 12,892 Shares of Weibo Co. (NASDAQ:WB)

Harvest Fund Management Co. Ltd trimmed its holdings in shares of Weibo Co. (NASDAQ:WB) by 19.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,697 shares of the information services provider’s stock after selling 12,892 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Weibo were worth $574,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Profund Advisors LLC acquired a new position in Weibo during the third quarter valued at approximately $133,000. abrdn plc grew its holdings in Weibo by 7.6% during the third quarter. abrdn plc now owns 11,710 shares of the information services provider’s stock valued at $147,000 after purchasing an additional 829 shares during the period. DGS Capital Management LLC grew its holdings in Weibo by 42.1% during the fourth quarter. DGS Capital Management LLC now owns 23,121 shares of the information services provider’s stock valued at $253,000 after purchasing an additional 6,850 shares during the period. Quantbot Technologies LP grew its holdings in Weibo by 353.7% during the third quarter. Quantbot Technologies LP now owns 21,500 shares of the information services provider’s stock valued at $270,000 after purchasing an additional 16,761 shares during the period. Finally, Headlands Technologies LLC grew its holdings in Weibo by 33.8% during the third quarter. Headlands Technologies LLC now owns 24,129 shares of the information services provider’s stock valued at $303,000 after purchasing an additional 6,097 shares during the period. 68.77% of the stock is owned by institutional investors.

Weibo Stock Up 4.9 %

WB traded up $0.40 during trading hours on Wednesday, hitting $8.53. 1,188,103 shares of the company’s stock were exchanged, compared to its average volume of 2,286,324. Weibo Co. has a 1-year low of $7.58 and a 1-year high of $18.10. The stock’s 50-day moving average is $8.95 and its two-hundred day moving average is $9.95. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 5.73, a PEG ratio of 1.23 and a beta of 0.44. The company has a quick ratio of 2.38, a current ratio of 2.51 and a debt-to-equity ratio of 0.54.

Weibo (NASDAQ:WB) last announced its earnings results on Thursday, March 14th. The information services provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.14). Weibo had a return on equity of 10.77% and a net margin of 19.47%. The business had revenue of $463.67 million for the quarter, compared to analyst estimates of $452.30 million. Sell-side analysts predict that Weibo Co. will post 1.64 earnings per share for the current fiscal year.

Weibo Cuts Dividend

The company also recently declared a — dividend, which will be paid on Monday, May 13th. Shareholders of record on Friday, April 12th will be given a dividend of $0.80 per share. The ex-dividend date is Thursday, April 11th.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WB. The Goldman Sachs Group restated a “neutral” rating and set a $10.60 price objective on shares of Weibo in a report on Thursday, March 28th. Bank of America cut shares of Weibo from a “buy” rating to an “underperform” rating and reduced their price target for the company from $19.50 to $10.00 in a report on Thursday, January 11th. UBS Group upgraded shares of Weibo from a “neutral” rating to a “buy” rating and reduced their price target for the company from $12.90 to $11.50 in a report on Tuesday, March 19th. HSBC reduced their price target on shares of Weibo from $13.60 to $9.80 and set a “hold” rating for the company in a report on Friday, March 15th. Finally, StockNews.com cut shares of Weibo from a “buy” rating to a “hold” rating in a report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $11.98.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover content in the People's Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.