Krane Funds Advisors LLC Grows Stock Holdings in Weibo Corporation (NASDAQ:WB)

Krane Funds Advisors LLC lifted its position in Weibo Corporation (NASDAQ:WB - Free Report) by 25.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,332,687 shares of the information services provider's stock after purchasing an additional 868,643 shares during the period. Weibo comprises approximately 1.2% of Krane Funds Advisors LLC's portfolio, making the stock its 14th biggest holding. Krane Funds Advisors LLC owned about 1.79% of Weibo worth $41,031,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Handelsbanken Fonder AB increased its holdings in Weibo by 82.7% during the 4th quarter. Handelsbanken Fonder AB now owns 24,589 shares of the information services provider's stock valued at $235,000 after purchasing an additional 11,129 shares during the period. QRG Capital Management Inc. purchased a new position in shares of Weibo during the fourth quarter valued at approximately $169,000. Aigen Investment Management LP bought a new position in shares of Weibo during the fourth quarter valued at approximately $167,000. Raymond James Financial Inc. purchased a new stake in Weibo in the fourth quarter worth $173,000. Finally, E Fund Management Co. Ltd. boosted its holdings in Weibo by 1,003.7% in the fourth quarter. E Fund Management Co. Ltd. now owns 458,206 shares of the information services provider's stock valued at $4,376,000 after acquiring an additional 416,690 shares in the last quarter. 68.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Weibo from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. One 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $9.75.

Weibo Stock Down 0.3%

Shares of WB traded down $0.03 on Thursday, reaching $9.47. The stock had a trading volume of 383,941 shares, compared to its average volume of 1,616,418. 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 Corporation has a 12-month low of $7.03 and a 12-month high of $12.40. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 6.86 and a beta of 0.11. The company has a 50-day simple moving average of $9.09 and a 200-day simple moving average of $9.47.

Weibo (NASDAQ:WB - Get Free Report) last released its earnings results on Wednesday, May 21st. The information services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.07. Weibo had a net margin of 20.41% and a return on equity of 12.29%. The firm had revenue of $396.86 million during the quarter, compared to analyst estimates of $394.21 million. During the same period last year, the business earned $0.41 earnings per share. The business's revenue was up .4% on a year-over-year basis. Sell-side analysts predict that Weibo Corporation will post 1.62 EPS 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.