Weibo (NASDAQ:WB) Shares Up 6.9% After Better-Than-Expected Earnings

Weibo Co. (NASDAQ:WB - Get Free Report)'s share price was up 6.9% during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $9.39 and last traded at $9.39. Approximately 809,296 shares were traded 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.07. Weibo had a net margin of 21.30% and a return on equity of 11.03%. The company had revenue of $396.86 million for the quarter, compared to analyst estimates of $394.21 million. During the same period in the prior year, the firm earned $0.41 earnings per share. The business's revenue for the quarter was up .4% compared to the same quarter last year.

Weibo Announces Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 9th were paid a $0.82 dividend. This represents a dividend yield of 7.77%. The ex-dividend date was Wednesday, April 9th. Weibo's payout ratio is presently 57.97%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Weibo

A number of hedge funds have recently modified their holdings of the business. Caxton Associates LLP acquired a new stake in Weibo during the 1st quarter worth approximately $1,139,000. AQR Capital Management LLC acquired a new position in Weibo during the first quarter worth $117,000. Hhlr Advisors LTD. purchased a new position in Weibo in the first quarter worth $947,000. Resolute Advisors LLC purchased a new stake in shares of Weibo during the 1st quarter worth $208,000. Finally, Quantbot Technologies LP acquired a new position in shares of Weibo during the 1st quarter worth $656,000. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

Weibo Price Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.57 and a current ratio of 3.57. The stock's fifty day moving average price is $8.57 and its 200-day moving average price is $9.45. The firm has a market cap of $2.24 billion, a PE ratio of 6.33 and a beta of 0.01.

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.