Federated Hermes Inc. Sells 510,534 Shares of Weibo Co. (NASDAQ:WB)

Federated Hermes Inc. lessened its stake in Weibo Co. (NASDAQ:WB) by 9.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,766,161 shares of the information services provider’s stock after selling 510,534 shares during the period. Federated Hermes Inc. owned about 2.04% of Weibo worth $36,604,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in WB. Deltec Asset Management LLC bought a new stake in shares of Weibo in the 2nd quarter valued at about $82,000. Truist Financial Corp bought a new stake in shares of Weibo in the 4th quarter valued at about $117,000. Bayesian Capital Management LP bought a new stake in shares of Weibo during the 1st quarter valued at about $123,000. XY Capital Ltd bought a new stake in shares of Weibo during the 1st quarter valued at about $140,000. Finally, SG Americas Securities LLC boosted its position in shares of Weibo by 21.5% during the 2nd quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider’s stock valued at $397,000 after purchasing an additional 9,143 shares in the last quarter. Institutional investors own 68.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WB shares. Morgan Stanley cut their target price on Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. Nomura Securities upgraded Weibo to a “hold” rating in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.88.

Weibo Stock Up 0.3 %

WB stock opened at $7.28 on Friday. The stock’s 50 day simple moving average is $7.75 and its 200 day simple moving average is $8.43. Weibo Co. has a fifty-two week low of $7.03 and a fifty-two week high of $13.54. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.34 and a current ratio of 2.34. The company has a market cap of $1.70 billion, a P/E ratio of 6.12, a price-to-earnings-growth ratio of 1.22 and a beta of 0.22.

Weibo (NASDAQ:WB) last posted its quarterly earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.10. Weibo had a return on equity of 11.01% and a net margin of 18.52%. The business had revenue of $437.90 million for the quarter, compared to the consensus estimate of $437.97 million. During the same period in the prior year, the business earned $0.42 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, research analysts expect that Weibo Co. will post 1.48 earnings per share for the current fiscal year.

About Weibo

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.