Weibo (NASDAQ:WB) Shares Gap Up After Strong Earnings

Shares of Weibo Co. (NASDAQ:WB - Get Free Report) gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $8.42, but opened at $8.79. Weibo shares last traded at $8.59, with a volume of 719,555 shares.

The information services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.07. Weibo had a return on equity of 11.03% and a net margin of 21.30%. During the same quarter last year, the firm posted $0.41 EPS. The firm's revenue was up .4% on a year-over-year basis.

Weibo Dividend Announcement

The firm also recently declared an annual dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 9th were paid a $0.82 dividend. This represents a yield of 7.77%. The ex-dividend date was Wednesday, April 9th. Weibo's dividend payout ratio (DPR) is presently 68.97%.

Analyst Ratings Changes

Separately, StockNews.com lowered Weibo from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $9.75.

Hedge Funds Weigh In On Weibo

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in Weibo by 155.2% during the 4th quarter. Blue Trust Inc. now owns 2,700 shares of the information services provider's stock valued at $27,000 after buying an additional 1,642 shares during the last quarter. Shell Asset Management Co. acquired a new stake in shares of Weibo during the fourth quarter worth $54,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Weibo during the fourth quarter worth $70,000. PARUS FINANCE UK Ltd acquired a new stake in shares of Weibo during the fourth quarter worth $99,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Weibo by 22.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,653 shares of the information services provider's stock valued at $110,000 after acquiring an additional 2,135 shares during the last quarter. 68.77% of the stock is owned by hedge funds and other institutional investors.

Weibo Stock Up 2.1%

The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 5.88 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 stock has a fifty day moving average of $8.69 and a two-hundred day moving average of $9.44.

Weibo Company 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.

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