Wellington Management Group LLP Has $17.16 Million Holdings in Weibo Corporation $WB

Key Points

• Wellington Management increased its Weibo stake by 41.9% in the second quarter, adding 697,778 shares to own 2.36 million shares worth approximately $17.16 million. Institutional investors collectively own 68.77% of Weibo.
• Weibo reported quarterly EPS of $0.38, exceeding the $0.36 consensus estimate, while revenue of $453.83 million also surpassed expectations. The stock opened at $6.72, near its 52-week low of $6.71.
• Analyst sentiment remains cautious, with one Buy, three Hold, and two Sell ratings; the consensus rating is “Reduce” with an average price target of $8.80.

Wellington Management Group LLP increased its stake in Weibo Corporation (NASDAQ:WB - Free Report) by 41.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,363,373 shares of the information services provider's stock after purchasing an additional 697,778 shares during the quarter. Wellington Management Group LLP owned approximately 0.96% of Weibo worth $17,158,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Weibo by 4.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,428 shares of the information services provider's stock worth $514,000 after purchasing an additional 1,860 shares during the last quarter. Vise Technologies Inc. lifted its position in Weibo by 12.1% in the third quarter. Vise Technologies Inc. now owns 21,009 shares of the information services provider's stock worth $261,000 after purchasing an additional 2,270 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Weibo by 14.6% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 18,674 shares of the information services provider's stock worth $233,000 after acquiring an additional 2,378 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Weibo by 337.5% during the first quarter. EverSource Wealth Advisors LLC now owns 3,876 shares of the information services provider's stock valued at $34,000 after purchasing an additional 2,990 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Weibo by 41.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 16,247 shares of the information services provider's stock valued at $201,000 after buying an additional 4,786 shares in the last quarter. Institutional investors and hedge funds own 68.77% of the company's stock.

Weibo Price Performance

Weibo stock opened at $6.72 on Monday. The company has a market cap of $1.65 billion, a P/E ratio of 5.55, a price-to-earnings-growth ratio of 4.28 and a beta of 0.18. The company has a fifty day simple moving average of $7.55 and a 200 day simple moving average of $8.25. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.46. Weibo Corporation has a 1-year low of $6.71 and a 1-year high of $12.96.

Weibo (NASDAQ:WB - Get Free Report) last released its earnings results on Thursday, August 20th. The information services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $453.83 million for the quarter, compared to analyst estimates of $442.45 million. Weibo had a return on equity of 8.87% and a net margin of 17.78%. Research analysts anticipate that Weibo Corporation will post 1.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on WB shares. Weiss Ratings restated a "sell (d+)" rating on shares of Weibo in a research report on Friday, July 24th. Benchmark reiterated a "hold" rating on shares of Weibo in a report on Thursday, August 20th. Zacks Research raised shares of Weibo from a "strong sell" rating to a "hold" rating in a research note on Monday, August 3rd. Jefferies Financial Group restated a "buy" rating and set a $9.80 target price on shares of Weibo in a research report on Thursday, May 28th. Finally, Bank of America reissued an "underperform" rating on shares of Weibo in a report on Friday, August 21st. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Weibo has a consensus rating of "Reduce" and an average target price of $8.80.

Weibo Company Profile

Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.

Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.

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