Saba Capital Management L.P. Raises Holdings in Weibo Co. (NASDAQ:WB)

Saba Capital Management L.P. grew its position in shares of Weibo Co. (NASDAQ:WB - Free Report) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,359,357 shares of the information services provider's stock after purchasing an additional 131,155 shares during the period. Saba Capital Management L.P. owned approximately 0.97% of Weibo worth $22,532,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Shell Asset Management Co. purchased a new position in shares of Weibo in the fourth quarter valued at approximately $54,000. RPD Fund Management LLC acquired a new stake in Weibo during the 4th quarter worth approximately $19,115,000. Point72 Asset Management L.P. acquired a new stake in Weibo during the 4th quarter worth approximately $3,683,000. Point72 Hong Kong Ltd purchased a new position in Weibo in the 4th quarter valued at approximately $1,148,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Weibo in the fourth quarter worth $2,738,000. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

Weibo Stock Up 8.6%

Weibo stock traded up $0.76 during midday trading on Thursday, reaching $9.54. The company's stock had a trading volume of 3,490,093 shares, compared to its average volume of 1,712,190. The company has a market cap of $2.31 billion, a P/E ratio of 6.53 and a beta of 0.01. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51. The business has a 50-day simple moving average of $8.66 and a 200-day simple moving average of $9.43. Weibo Co. has a fifty-two week low of $7.03 and a fifty-two week high of $12.40.

Weibo (NASDAQ:WB - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The information services provider reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.07. The business had revenue of $396.86 million for the quarter, compared to the consensus estimate of $394.21 million. Weibo had a return on equity of 11.03% and a net margin of 21.30%. The business's revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.41 EPS. On average, research analysts expect that Weibo Co. will post 1.62 earnings per share for the current fiscal year.

Weibo Dividend Announcement

The business also recently disclosed an annual dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 9th were issued a dividend of $0.82 per share. The ex-dividend date was Wednesday, April 9th. This represents a yield of 7.77%. Weibo's payout ratio is currently 68.97%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut 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 issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $9.75.

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.