Weibo (NASDAQ:WB) Stock Price Up 6.9% After Earnings Beat

Shares of Weibo Co. (NASDAQ:WB - Get Free Report) were up 6.9% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $9.39 and last traded at $9.39. Approximately 809,296 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 1,702,175 shares. The stock had previously closed at $8.78.

The information services provider reported $0.45 EPS for the quarter, topping the consensus estimate 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%. Weibo's revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 EPS.

Weibo Announces Dividend

The business also recently announced 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 dividend yield of 7.77%. The ex-dividend date of this dividend was Wednesday, April 9th. Weibo's dividend payout ratio is presently 68.97%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Weibo from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $9.75.

Hedge Funds Weigh In On Weibo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in shares of Weibo by 155.2% in the 4th quarter. Blue Trust Inc. now owns 2,700 shares of the information services provider's stock valued at $27,000 after acquiring an additional 1,642 shares during the last quarter. Shell Asset Management Co. acquired a new position in Weibo during the fourth quarter valued at approximately $54,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Weibo during the fourth quarter valued at approximately $70,000. PARUS FINANCE UK Ltd bought a new stake in Weibo in the fourth quarter valued at approximately $99,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised 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 worth $110,000 after purchasing an additional 2,135 shares during the period. Institutional investors own 68.77% of the company's stock.

Weibo Trading Up 6.9%

The company has a market capitalization of $2.28 billion, a P/E ratio of 6.43 and a beta of 0.01. 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 business's 50-day moving average price is $8.66 and its two-hundred day moving average price is $9.43.

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.

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