Connor Clark & Lunn Investment Management Ltd. Increases Position in Weibo Corporation $WB

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Weibo Corporation by 89.1%, acquiring an additional 73,903 shares to bring its total holdings to 156,863 shares worth approximately $1.5 million.
• Institutional investors now hold 68.77% of Weibo's stock, with significant increases from several firms, including Invesco Ltd. and Mariner LLC.
• Weibo's stock has a current consensus rating of "Hold" with a price target of $10.75, following recent analyst updates that included upgrades and downgrades.

Connor Clark & Lunn Investment Management Ltd. grew its stake in Weibo Corporation (NASDAQ:WB - Free Report) by 89.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,863 shares of the information services provider's stock after buying an additional 73,903 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of Weibo worth $1,485,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in shares of Weibo by 51.8% during the fourth quarter. BNP Paribas Financial Markets now owns 126,192 shares of the information services provider's stock worth $1,205,000 after purchasing an additional 43,086 shares during the last quarter. Northern Trust Corp boosted its position in Weibo by 61.7% during the fourth quarter. Northern Trust Corp now owns 178,201 shares of the information services provider's stock worth $1,702,000 after acquiring an additional 68,023 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Weibo during the fourth quarter worth about $1,359,000. Jump Financial LLC acquired a new position in Weibo during the fourth quarter worth about $1,941,000. Finally, Invesco Ltd. boosted its position in Weibo by 34.0% during the fourth quarter. Invesco Ltd. now owns 1,719,174 shares of the information services provider's stock worth $16,418,000 after acquiring an additional 436,215 shares during the last quarter. Hedge funds and other institutional investors own 68.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Weibo from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Citigroup boosted their price target on shares of Weibo from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, August 15th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $10.75.

Weibo Stock Up 1.1%

Shares of Weibo stock traded up $0.12 during trading hours on Thursday, hitting $11.28. The company had a trading volume of 638,087 shares, compared to its average volume of 1,304,373. The company's 50-day moving average is $10.01 and its two-hundred day moving average is $9.61. Weibo Corporation has a twelve month low of $7.03 and a twelve month high of $12.40. The company has a market cap of $2.74 billion, a P/E ratio of 7.89 and a beta of 0.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.65 and a quick ratio of 2.72.

Weibo (NASDAQ:WB - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The information services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.27 by $0.27. Weibo had a net margin of 21.10% and a return on equity of 12.65%. The firm had revenue of $444.80 million during the quarter, compared to the consensus estimate of $438.84 million. During the same quarter in the prior year, the firm earned $0.48 EPS. Weibo's revenue for the quarter was up 1.6% on a year-over-year basis. Analysts anticipate that Weibo Corporation will post 1.62 earnings per share for the current fiscal year.

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.