E Fund Management Co. Ltd. Raises Stock Position in Weibo Co. (NASDAQ:WB)

E Fund Management Co. Ltd. raised its stake in shares of Weibo Co. (NASDAQ:WB - Free Report) by 331.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 309,136 shares of the information services provider's stock after buying an additional 237,453 shares during the period. E Fund Management Co. Ltd. owned about 0.13% of Weibo worth $3,385,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. abrdn plc boosted its stake in shares of Weibo by 7.6% during the 3rd quarter. abrdn plc now owns 11,710 shares of the information services provider's stock worth $147,000 after acquiring an additional 829 shares during the last quarter. California Public Employees Retirement System increased its position in Weibo by 0.8% in the third quarter. California Public Employees Retirement System now owns 126,938 shares of the information services provider's stock worth $1,592,000 after buying an additional 1,026 shares in the last quarter. Aviva PLC raised its stake in shares of Weibo by 6.8% in the third quarter. Aviva PLC now owns 47,259 shares of the information services provider's stock worth $593,000 after buying an additional 3,000 shares during the period. Deutsche Bank AG lifted its position in shares of Weibo by 2.1% during the 3rd quarter. Deutsche Bank AG now owns 158,145 shares of the information services provider's stock valued at $1,983,000 after buying an additional 3,267 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of Weibo by 5.7% during the 4th quarter. New York State Common Retirement Fund now owns 61,627 shares of the information services provider's stock valued at $675,000 after acquiring an additional 3,338 shares during the period. 68.77% of the stock is owned by institutional investors.

Weibo Price Performance

Shares of NASDAQ:WB traded up $0.24 during mid-day trading on Thursday, reaching $9.68. The stock had a trading volume of 883,584 shares, compared to its average volume of 2,242,536. The business's 50 day moving average price is $8.91 and its 200 day moving average price is $9.71. Weibo Co. has a 1 year low of $7.58 and a 1 year high of $17.67. The company has a market cap of $2.27 billion, a P/E ratio of 6.85, a price-to-earnings-growth ratio of 1.47 and a beta of 0.40. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 0.54.

Weibo (NASDAQ:WB - Get Free Report) last released its quarterly earnings data on Thursday, March 14th. The information services provider reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.14). The firm had revenue of $463.67 million during the quarter, compared to the consensus estimate of $452.30 million. Weibo had a return on equity of 10.77% and a net margin of 19.47%. Research analysts expect that Weibo Co. will post 1.64 EPS for the current fiscal year.

Weibo Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Monday, May 13th. Investors of record on Friday, April 12th will be paid a dividend of $0.80 per share. The ex-dividend date is Thursday, April 11th.

Wall Street Analysts Forecast Growth

WB has been the topic of a number of recent analyst reports. The Goldman Sachs Group restated a "neutral" rating and set a $10.60 target price on shares of Weibo in a research note on Thursday, March 28th. StockNews.com cut Weibo from a "buy" rating to a "hold" rating in a report on Friday, January 19th. Bank of America downgraded Weibo from a "buy" rating to an "underperform" rating and lowered their price objective for the company from $19.50 to $10.00 in a research report on Thursday, January 11th. HSBC cut their target price on Weibo from $13.60 to $9.80 and set a "hold" rating for the company in a research report on Friday, March 15th. Finally, UBS Group raised Weibo from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $12.90 to $11.50 in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $11.98.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover 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.

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