Wellington Management Group LLP Has $10.01 Million Holdings in Weibo Co. (NASDAQ:WB)

Wellington Management Group LLP grew its holdings in shares of Weibo Co. (NASDAQ:WB - Free Report) by 1,641.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,048,522 shares of the information services provider's stock after purchasing an additional 988,327 shares during the quarter. Wellington Management Group LLP owned about 0.43% of Weibo worth $10,013,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in Weibo by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 2,811,872 shares of the information services provider's stock worth $26,853,000 after acquiring an additional 52,598 shares during the period. Saba Capital Management L.P. raised its holdings in Weibo by 5.9% in the 4th quarter. Saba Capital Management L.P. now owns 2,359,357 shares of the information services provider's stock worth $22,532,000 after acquiring an additional 131,155 shares during the period. Causeway Capital Management LLC raised its holdings in Weibo by 14.8% in the 4th quarter. Causeway Capital Management LLC now owns 2,259,267 shares of the information services provider's stock worth $21,576,000 after acquiring an additional 292,086 shares during the period. RPD Fund Management LLC bought a new position in Weibo in the 4th quarter worth $19,115,000. Finally, Invesco Ltd. raised its holdings in Weibo by 34.0% in the 4th quarter. Invesco Ltd. now owns 1,719,174 shares of the information services provider's stock worth $16,418,000 after acquiring an additional 436,215 shares during the period. Institutional investors own 68.77% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Weibo from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $9.75.

Weibo Price Performance

Shares of Weibo stock traded up $0.29 during trading on Wednesday, hitting $9.47. 968,594 shares of the company's stock traded hands, compared to its average volume of 1,693,505. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.57 and a quick ratio of 3.57. The firm's fifty day moving average price is $8.47 and its 200 day moving average price is $9.47. Weibo Co. has a twelve month low of $7.03 and a twelve month high of $12.40. The company has a market cap of $2.30 billion, a PE ratio of 6.49 and a beta of 0.01.

Weibo (NASDAQ:WB - Get Free Report) last issued its earnings results on Wednesday, May 21st. The information services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.07. The business had revenue of $396.86 million for the quarter, compared to analyst estimates of $394.21 million. Weibo had a net margin of 21.30% and a return on equity of 11.03%. The firm's revenue was up .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 EPS. Analysts forecast that Weibo Co. will post 1.62 earnings per share for the current year.

Weibo Announces Dividend

The company also recently declared an annual dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 9th were given a $0.82 dividend. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a yield of 7.77%. Weibo's dividend payout ratio (DPR) is presently 57.97%.

About Weibo

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.