Seven Eight Capital LP Invests $110,000 in Weibo Co. (NASDAQ:WB)

Seven Eight Capital LP purchased a new position in Weibo Co. (NASDAQ:WB) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,376 shares of the information services provider’s stock, valued at approximately $110,000.

A number of other hedge funds have also made changes to their positions in the stock. Deltec Asset Management LLC bought a new position in Weibo during the second quarter valued at approximately $82,000. Bayesian Capital Management LP bought a new position in Weibo during the first quarter valued at approximately $123,000. XY Capital Ltd bought a new position in Weibo during the first quarter valued at approximately $140,000. SG Americas Securities LLC raised its position in Weibo by 21.5% during the second quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider’s stock valued at $397,000 after acquiring an additional 9,143 shares in the last quarter. Finally, DGS Capital Management LLC raised its position in Weibo by 92.7% during the first quarter. DGS Capital Management LLC now owns 44,543 shares of the information services provider’s stock valued at $405,000 after acquiring an additional 21,422 shares in the last quarter. 68.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Morgan Stanley dropped their price target 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. Nomura Securities raised shares of Weibo to a “hold” rating in a research report on Monday, August 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.88.

Weibo Trading Up 1.7 %

NASDAQ:WB opened at $7.76 on Tuesday. The company’s 50 day moving average is $7.66 and its 200-day moving average is $8.36. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 6.52, a P/E/G ratio of 1.22 and a beta of 0.22. The company has a quick ratio of 2.34, a current 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 $13.54.

Weibo (NASDAQ:WB) last announced its quarterly earnings data on Thursday, August 22nd. The information services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.10. The business 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%. Weibo’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the company posted $0.42 earnings per share. Equities analysts anticipate that Weibo Co. will post 1.48 EPS for the current year.

Weibo 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.