Weibo Co. (NASDAQ:WB) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Weibo Co. (NASDAQ:WB) by 60.0% during the 3rd quarter, Holdings Channel reports. The fund owned 282,199 shares of the information services provider’s stock after purchasing an additional 105,780 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Weibo were worth $2,845,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of WB. BNP Paribas Financial Markets raised its position in shares of Weibo by 98.0% in the third quarter. BNP Paribas Financial Markets now owns 83,106 shares of the information services provider’s stock worth $838,000 after acquiring an additional 41,137 shares during the period. Quantbot Technologies LP acquired a new position in Weibo in the 3rd quarter worth about $318,000. Citigroup Inc. raised its holdings in Weibo by 347.3% in the 3rd quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock worth $6,077,000 after purchasing an additional 468,072 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Weibo by 17.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock worth $134,000 after purchasing an additional 1,970 shares in the last quarter. Finally, XY Capital Ltd acquired a new stake in Weibo in the third quarter valued at approximately $496,000. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

Weibo Stock Performance

NASDAQ:WB opened at $10.36 on Friday. The company has a market cap of $2.43 billion, a P/E ratio of 7.10 and a beta of 0.27. Weibo Co. has a twelve month low of $7.03 and a twelve month high of $12.40. The company’s 50-day moving average price is $9.38 and its 200-day moving average price is $8.56. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.51.

Analyst Ratings Changes

Several brokerages have recently weighed in on WB. Benchmark reaffirmed a “hold” rating on shares of Weibo in a research note on Wednesday, November 20th. Nomura Securities raised shares of Weibo to a “hold” rating in a report on Monday, August 26th. Morgan Stanley dropped their target price on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. Citigroup upped their price target 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. Finally, StockNews.com raised shares of Weibo from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus 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.