31,958 Shares in Weibo Co. (NASDAQ:WB) Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new stake in Weibo Co. (NASDAQ:WBFree Report) during the third quarter, HoldingsChannel.com reports. The fund purchased 31,958 shares of the information services provider’s stock, valued at approximately $322,000.

Several other hedge funds have also bought and sold shares of the stock. SG Americas Securities LLC boosted its position in shares of Weibo by 21.5% during the 2nd 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 during the last quarter. Acadian Asset Management LLC grew its stake in shares of Weibo by 204.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider’s stock worth $18,678,000 after buying an additional 1,634,230 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Weibo in the 2nd quarter worth about $1,398,000. Krane Funds Advisors LLC raised its position in shares of Weibo by 17.4% during the 2nd quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider’s stock valued at $29,213,000 after buying an additional 564,068 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Weibo by 42.1% in the 2nd quarter. Hsbc Holdings PLC now owns 59,890 shares of the information services provider’s stock valued at $460,000 after acquiring an additional 17,749 shares during the last quarter. Hedge funds and other institutional investors own 68.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WB. Citigroup boosted their price objective on Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Benchmark reissued a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th. Nomura Securities upgraded Weibo to a “hold” rating in a report on Monday, August 26th. Morgan Stanley dropped their price objective 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. Finally, StockNews.com raised shares of Weibo from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Weibo has an average rating of “Hold” and an average target price of $10.23.

Read Our Latest Research Report on Weibo

Weibo Stock Performance

WB stock opened at $10.46 on Wednesday. Weibo Co. has a twelve month low of $7.03 and a twelve month high of $12.40. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 7.21 and a beta of 0.27. The business’s fifty day simple moving average is $9.35 and its two-hundred day simple moving average is $8.56. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51.

Weibo Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Weibo (NASDAQ:WB)

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