Connor Clark & Lunn Investment Management Ltd. Acquires 73,903 Shares of Weibo Corporation (NASDAQ: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. boosted its holdings in shares of Weibo Corporation (NASDAQ:WB - Free Report) by 89.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 156,863 shares of the information services provider's stock after purchasing an additional 73,903 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of Weibo worth $1,485,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WB. Franklin Resources Inc. grew its holdings in Weibo by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 29,986 shares of the information services provider's stock valued at $286,000 after buying an additional 2,522 shares in the last quarter. Invesco Ltd. grew its holdings in Weibo by 34.0% during the 4th quarter. Invesco Ltd. now owns 1,719,174 shares of the information services provider's stock valued at $16,418,000 after buying an additional 436,215 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Weibo during the 4th quarter valued at approximately $173,000. Mariner LLC grew its holdings in Weibo by 35.6% during the 4th quarter. Mariner LLC now owns 54,030 shares of the information services provider's stock valued at $516,000 after buying an additional 14,191 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Weibo during the 4th quarter valued at approximately $1,941,000. Institutional investors own 68.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wall Street Zen cut Weibo from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Citigroup lifted their target price on Weibo from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $10.75.

Weibo Stock Performance

Shares of Weibo stock opened at $11.55 on Friday. The stock's fifty day moving average is $9.88 and its two-hundred day moving average is $9.57. The company has a market capitalization of $2.80 billion, a PE ratio of 8.08 and a beta of 0.10. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.53. Weibo Corporation has a 52 week low of $7.03 and a 52 week high of $12.40.

Weibo (NASDAQ:WB - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $444.80 million for the quarter, compared to the consensus estimate of $438.84 million. Weibo had a return on equity of 12.74% and a net margin of 21.10%. Weibo's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 EPS. As a group, analysts expect that Weibo Corporation will post 1.62 earnings per share for the current 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.

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