New York State Common Retirement Fund Has $4.13 Million Stock Holdings in Weibo Corporation (NASDAQ:WB)

New York State Common Retirement Fund boosted its stake in shares of Weibo Corporation (NASDAQ:WB - Free Report) by 57.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 435,849 shares of the information services provider's stock after purchasing an additional 159,500 shares during the quarter. New York State Common Retirement Fund owned about 0.18% of Weibo worth $4,127,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Shell Asset Management Co. bought a new position in Weibo in the fourth quarter worth $54,000. PARUS FINANCE UK Ltd bought a new position in Weibo in the fourth quarter worth $99,000. Virtu Financial LLC bought a new position in Weibo in the fourth quarter worth $117,000. Public Employees Retirement Association of Colorado acquired a new position in Weibo during the fourth quarter worth $133,000. Finally, Kathmere Capital Management LLC acquired a new position in Weibo during the first quarter worth $147,000. 68.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Weibo Stock Down 1.3%

Weibo stock traded down $0.13 during midday trading on Friday, reaching $10.19. The stock had a trading volume of 671,624 shares, compared to its average volume of 766,619. The firm's fifty day simple moving average is $9.60 and its 200-day simple moving average is $9.50. Weibo Corporation has a 1-year low of $7.03 and a 1-year high of $12.40. The stock has a market capitalization of $2.47 billion, a P/E ratio of 7.38 and a beta of 0.11. 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, topping the consensus estimate of $0.38 by $0.07. Weibo had a return on equity of 12.29% and a net margin of 20.41%. The firm had revenue of $396.86 million for the quarter, compared to analyst estimates of $394.21 million. During the same quarter in the previous year, the firm earned $0.41 EPS. The business's quarterly revenue was up .4% on a year-over-year basis. As a group, analysts expect 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.