68,500 Shares in Weibo Corporation (NASDAQ:WB) Acquired by XY Capital Ltd

Key Points

• XY Capital Ltd acquired 68,500 shares of Weibo Corporation valued at approximately $649,000, making it one of the company's institutional investors.
• Weibo posted earnings of $0.45 per share, surpassing the analyst consensus estimate of $0.38, with a revenue of $396.86 million for the quarter.
• Wall Street analysts have generally rated Weibo as a "Hold," with an average target price of $9.75 for the shares.

XY Capital Ltd purchased a new stake in shares of Weibo Corporation (NASDAQ:WB - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 68,500 shares of the information services provider's stock, valued at approximately $649,000. Weibo makes up approximately 0.2% of XY Capital Ltd's investment portfolio, making the stock its 26th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WB. Harvest Fund Management Co. Ltd raised its holdings in shares of Weibo by 66.1% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 58,443 shares of the information services provider's stock worth $556,000 after purchasing an additional 23,247 shares in the last quarter. Mackenzie Financial Corp acquired a new position in Weibo in the first quarter worth approximately $351,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 valued at $110,000 after buying an additional 2,135 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Weibo by 57.7% during the 1st quarter. New York State Common Retirement Fund now owns 435,849 shares of the information services provider's stock worth $4,127,000 after acquiring an additional 159,500 shares in the last quarter. Finally, Kathmere Capital Management LLC bought a new stake in shares of Weibo during the 1st quarter worth $147,000. 68.77% of the stock is owned by institutional investors.

Weibo Stock Down 0.3%

Shares of NASDAQ:WB opened at $9.72 on Friday. The firm has a 50 day simple moving average of $9.74 and a 200 day simple moving average of $9.54. The company has a market cap of $2.36 billion, a PE ratio of 7.04 and a beta of 0.10. Weibo Corporation has a 52 week low of $7.03 and a 52 week high of $12.40. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.72 and a current ratio of 2.72.

Weibo (NASDAQ:WB - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The information services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.07. The firm had revenue of $396.86 million for 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 firm earned $0.41 earnings per share. As a group, research analysts expect that Weibo Corporation will post 1.62 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Weibo Company 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.

Want to see what other hedge funds are holding WB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Weibo Corporation (NASDAQ:WB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.