Mirae Asset Global Investments Co. Ltd. Has $26,000 Stake in Weibo Co. (NASDAQ:WB)

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Weibo Co. (NASDAQ:WB) by 29.5% in the third quarter, Holdings Channel.com reports. The firm owned 2,665 shares of the information services provider’s stock after selling 1,113 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Weibo were worth $26,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Deltec Asset Management LLC bought a new position in shares of Weibo during the 2nd quarter worth approximately $82,000. Seven Eight Capital LP bought a new position in shares of Weibo during the 2nd quarter worth approximately $110,000. Creative Planning bought a new position in shares of Weibo during the 3rd quarter worth approximately $112,000. Bayesian Capital Management LP bought a new position in shares of Weibo during the 1st quarter worth approximately $123,000. Finally, Diversified Trust Co bought a new position in shares of Weibo during the 3rd quarter worth approximately $194,000. Institutional investors and hedge funds own 68.77% of the company’s stock.

Weibo Trading Up 4.6 %

NASDAQ:WB opened at $9.29 on Wednesday. The firm’s 50 day moving average is $8.79 and its 200 day moving average is $8.52. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.55. Weibo Co. has a 12 month low of $7.03 and a 12 month high of $12.65. The stock has a market capitalization of $2.18 billion, a PE ratio of 7.26 and a beta of 0.24.

Weibo (NASDAQ:WB) last issued its 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. Weibo had a net margin of 18.52% and a return on equity of 11.01%. The business had revenue of $437.90 million for the quarter, compared to analysts’ expectations of $437.97 million. During the same quarter in the previous year, the firm posted $0.42 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Sell-side analysts expect that Weibo Co. will post 1.48 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on WB. Citigroup lifted their target price on shares of Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. StockNews.com raised shares of Weibo from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Morgan Stanley lowered their price target on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Finally, Nomura Securities raised shares of Weibo to a “hold” rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.23.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute 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.