Mackenzie Financial Corp Takes $351,000 Position in Weibo Corporation (NASDAQ:WB)

Key Points

• Mackenzie Financial Corp has acquired 37,051 shares of Weibo Corporation, valued at approximately $351,000, marking a new position in the company.
• Weibo's recent quarterly earnings report showed earnings per share of $0.45, exceeding estimates, and revenue of $396.86 million, slightly above analyst expectations.
• Institutional investors and hedge funds currently hold 68.77% of Weibo's stock, with various firms adjusting their stakes in recent quarters.

Mackenzie Financial Corp purchased a new stake in Weibo Corporation (NASDAQ:WB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 37,051 shares of the information services provider's stock, valued at approximately $351,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. RPD Fund Management LLC bought a new position in shares of Weibo during the 4th quarter valued at $19,115,000. Wellington Management Group LLP boosted its position in shares of Weibo by 1,641.9% during the 4th quarter. Wellington Management Group LLP now owns 1,048,522 shares of the information services provider's stock valued at $10,013,000 after acquiring an additional 988,327 shares in the last quarter. Krane Funds Advisors LLC boosted its position in shares of Weibo by 25.1% during the 1st quarter. Krane Funds Advisors LLC now owns 4,332,687 shares of the information services provider's stock valued at $41,031,000 after acquiring an additional 868,643 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Weibo during the 4th quarter valued at about $6,853,000. Finally, Quinn Opportunity Partners LLC bought a new position in Weibo during the 4th quarter valued at about $6,133,000. 68.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Weibo from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $9.75.

Weibo Trading Up 1.7%

Shares of NASDAQ:WB traded up $0.17 on Friday, hitting $9.89. 901,277 shares of the company's stock were exchanged, compared to its average volume of 811,545. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 7.17 and a beta of 0.10. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.72 and a quick ratio of 2.72. Weibo Corporation has a 12 month low of $7.03 and a 12 month high of $12.40. The business's 50 day simple moving average is $9.75 and its two-hundred day simple moving average is $9.54.

Weibo (NASDAQ:WB - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The information services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.38 by $0.07. The company had revenue of $396.86 million during the quarter, compared to analyst estimates of $394.21 million. Weibo had a return on equity of 12.29% and a net margin of 20.41%. Weibo's quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 EPS. Analysts anticipate that Weibo Corporation will post 1.62 EPS for the current fiscal year.

Weibo 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.