Hsbc Holdings PLC Grows Holdings in Weibo Co. (NASDAQ:WB)

Hsbc Holdings PLC increased its holdings in Weibo Co. (NASDAQ:WB) by 42.1% in the second quarter, Holdings Channel.com reports. The firm owned 59,890 shares of the information services provider’s stock after acquiring an additional 17,749 shares during the period. Hsbc Holdings PLC’s holdings in Weibo were worth $460,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in WB. Edmond DE Rothschild Holding S.A. boosted its position in Weibo by 4.7% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 134,393 shares of the information services provider’s stock valued at $1,222,000 after buying an additional 6,000 shares during the period. SG Americas Securities LLC raised its holdings in Weibo by 21.5% in the 2nd quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider’s stock worth $397,000 after purchasing an additional 9,143 shares in the last quarter. Deltec Asset Management LLC bought a new position in Weibo in the 2nd quarter worth $82,000. Bayesian Capital Management LP bought a new position in Weibo in the 1st quarter worth $123,000. Finally, XY Capital Ltd bought a new position in Weibo in the 1st quarter worth $140,000. Hedge funds and other institutional investors own 68.77% of the company’s stock.

Weibo Stock Performance

Shares of WB stock opened at $10.80 on Wednesday. The company’s 50-day moving average is $7.79 and its 200 day moving average is $8.36. 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 capitalization of $2.53 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22. Weibo Co. has a one year low of $7.03 and a one year high of $13.54.

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

Wall Street Analyst Weigh In

Several brokerages have commented on WB. Citigroup upped their price objective on shares of Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Monday. Nomura Securities upgraded shares of Weibo to a “hold” rating in a research note on Monday, August 26th. Finally, Morgan Stanley decreased their price target on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a research note on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.23.

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.