Wolverine Asset Management LLC Purchases 33,000 Shares of Weibo Corporation (NASDAQ:WB)

Key Points

• Wolverine Asset Management LLC increased its stake in Weibo Corporation by 35.1%, acquiring an additional 33,000 shares and owning 127,140 shares valued at approximately $1.2 million.
• Several institutional investors, including Wellington Management Group LLP and Invesco Ltd., significantly boosted their positions in Weibo, leading to 68.77% of the company's stock being held by institutions.
• Analysts rated Weibo as a "hold," with a consensus price target of $9.75, while the company reported earnings per share of $0.45 for its last quarter, above the consensus estimate.

Wolverine Asset Management LLC lifted its position in Weibo Corporation (NASDAQ:WB - Free Report) by 35.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 127,140 shares of the information services provider's stock after buying an additional 33,000 shares during the quarter. Wolverine Asset Management LLC owned about 0.05% of Weibo worth $1,204,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. SIH Partners LLLP lifted its stake in Weibo by 8.0% in the fourth quarter. SIH Partners LLLP now owns 20,200 shares of the information services provider's stock valued at $193,000 after buying an additional 1,500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Weibo by 22.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,653 shares of the information services provider's stock worth $110,000 after acquiring an additional 2,135 shares during the period. Franklin Resources Inc. boosted its stake in Weibo by 9.2% in the 4th quarter. Franklin Resources Inc. now owns 29,986 shares of the information services provider's stock valued at $286,000 after purchasing an additional 2,522 shares during the period. Ameriprise Financial Inc. raised its holdings in Weibo by 26.5% in the 4th quarter. Ameriprise Financial Inc. now owns 15,780 shares of the information services provider's stock valued at $151,000 after acquiring an additional 3,307 shares in the last quarter. Finally, Shell Asset Management Co. acquired a new position in shares of Weibo during the 4th quarter worth $54,000. Institutional investors own 68.77% of the company's stock.

Analyst Upgrades and Downgrades

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

Weibo Stock Up 3.8%

Shares of Weibo stock traded up $0.37 on Tuesday, hitting $10.10. The company had a trading volume of 661,051 shares, compared to its average volume of 821,125. The stock has a 50 day moving average of $9.78 and a 200-day moving average of $9.54. 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 $2.45 billion, a price-to-earnings ratio of 7.32 and a beta of 0.10. 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 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $394.21 million. During the same period last year, the company earned $0.41 earnings per share. The business's revenue for the quarter was up .4% on a year-over-year basis. As a group, sell-side analysts forecast that Weibo Corporation will post 1.62 earnings per share for the current 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.