Nuveen LLC Buys New Shares in Weibo Corporation $WB

Key Points

• Nuveen LLC has acquired a new stake in Weibo Corporation, purchasing 72,900 shares valued at approximately $690,000.
• Several institutional investors have increased their holdings in Weibo, with Vontobel Holding Ltd. leading with a 72.2% increase in the first quarter.
• Weibo reported $0.54 earnings per share for its last quarter, surpassing analysts' expectations and indicating a year-over-year revenue growth of 1.6%.

Nuveen LLC purchased a new position in Weibo Corporation (NASDAQ:WB - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 72,900 shares of the information services provider's stock, valued at approximately $690,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets boosted its position in shares of Weibo by 51.8% in the 4th 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 shares of Weibo by 61.7% in the 4th quarter. Northern Trust Corp now owns 178,201 shares of the information services provider's stock worth $1,702,000 after purchasing an additional 68,023 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Weibo in the 4th quarter worth $1,359,000. Wolverine Asset Management LLC boosted its position in shares of Weibo by 35.1% in the 1st quarter. Wolverine Asset Management LLC now owns 127,140 shares of the information services provider's stock worth $1,204,000 after purchasing an additional 33,000 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its position in shares of Weibo by 106.9% in the 1st quarter. QRG Capital Management Inc. now owns 36,680 shares of the information services provider's stock worth $347,000 after purchasing an additional 18,955 shares during the last quarter. 68.77% of the stock is currently owned by institutional investors.

Weibo Stock Up 6.1%

Shares of Weibo stock traded up $0.71 during trading on Tuesday, reaching $12.23. The stock had a trading volume of 936,532 shares, compared to its average volume of 1,358,286. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 8.56 and a beta of 0.08. The stock has a fifty day moving average price of $10.46 and a two-hundred day moving average price of $9.65. Weibo Corporation has a 52 week low of $7.09 and a 52 week high of $12.40. The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 0.31.

Weibo (NASDAQ:WB - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The information services provider reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.27. The company had revenue of $444.80 million for the quarter, compared to analyst estimates of $438.84 million. Weibo had a return on equity of 12.65% and a net margin of 21.10%.The company's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 earnings per share. Sell-side analysts predict that Weibo Corporation will post 1.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on WB. 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, August 15th. Wall Street Zen lowered Weibo from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $14.00.

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.