Quantbot Technologies LP Purchases New Stake in Weibo Co. (NASDAQ:WB)

Quantbot Technologies LP bought a new position in shares of Weibo Co. (NASDAQ:WB) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 31,505 shares of the information services provider’s stock, valued at approximately $318,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in shares of Weibo during the second quarter worth $1,398,000. Krane Funds Advisors LLC boosted its position in shares of Weibo by 17.4% during the second quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider’s stock worth $29,213,000 after buying an additional 564,068 shares during the period. Polunin Capital Partners Ltd purchased a new position in shares of Weibo during the third quarter worth $5,064,000. Citigroup Inc. boosted its position in shares of Weibo by 347.3% during the third quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock worth $6,077,000 after buying an additional 468,072 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of Weibo by 64.1% during the second quarter. Canada Pension Plan Investment Board now owns 1,309,385 shares of the information services provider’s stock worth $10,056,000 after buying an additional 511,248 shares during the period. Institutional investors and hedge funds own 68.77% of the company’s stock.

Analyst Ratings Changes

WB has been the subject of several research analyst reports. Morgan Stanley lowered their price target on Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Nomura Securities upgraded Weibo to a “hold” rating in a report on Monday, August 26th. StockNews.com lowered Weibo from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Citigroup lifted their target price on Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Benchmark reiterated a “hold” rating on shares of Weibo in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.23.

Weibo Stock Down 3.3 %

Shares of NASDAQ WB opened at $9.57 on Thursday. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 6.55 and a beta of 0.27. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.57 and a quick ratio of 3.57. The business has a 50-day moving average of $9.42 and a two-hundred day moving average of $8.49. Weibo Co. has a 1 year low of $7.03 and a 1 year high of $12.40.

About Weibo

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.