37,051 Shares in Weibo Corporation (NASDAQ:WB) Acquired by Mackenzie Financial Corp

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 acquired a new position in shares of Weibo Corporation (NASDAQ:WB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 37,051 shares of the information services provider's stock, valued at approximately $351,000.

Other institutional investors also recently made changes to their positions in the company. Shell Asset Management Co. bought a new stake in shares of Weibo in the fourth quarter worth $54,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Weibo by 22.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,653 shares of the information services provider's stock worth $110,000 after purchasing an additional 2,135 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new stake in shares of Weibo in the fourth quarter worth $133,000. Kathmere Capital Management LLC bought a new stake in Weibo during the first quarter valued at $147,000. Finally, Ameriprise Financial Inc. boosted its position in Weibo by 26.5% during the fourth quarter. Ameriprise Financial Inc. now owns 15,780 shares of the information services provider's stock valued at $151,000 after acquiring an additional 3,307 shares during the last quarter. Institutional investors own 68.77% of the company's stock.

Analyst Upgrades and Downgrades

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

Weibo Stock Up 2.3%

Shares of WB stock traded up $0.24 on Wednesday, reaching $10.34. 800,574 shares of the company were exchanged, compared to its average volume of 1,335,047. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 7.48 and a beta of 0.10. The company has a 50-day moving average of $9.78 and a 200-day moving average of $9.54. 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 one year low of $7.03 and a one year high of $12.40.

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

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.