Weibo (NASDAQ:WB) Hits New 1-Year Low at $7.84

Weibo Co. (NASDAQ:WB) shares hit a new 52-week low on Friday . The company traded as low as $7.84 and last traded at $7.84, with a volume of 650514 shares changing hands. The stock had previously closed at $8.20.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WB shares. HSBC decreased their price objective on shares of Weibo from $13.60 to $9.80 and set a “hold” rating for the company in a report on Friday, March 15th. UBS Group upgraded shares of Weibo from a “neutral” rating to a “buy” rating and reduced their price target for the company from $12.90 to $11.50 in a report on Tuesday, March 19th. StockNews.com lowered shares of Weibo from a “buy” rating to a “hold” rating in a report on Friday, January 19th. Bank of America lowered shares of Weibo from a “buy” rating to an “underperform” rating and reduced their price target for the company from $19.50 to $10.00 in a report on Thursday, January 11th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $10.60 price target on shares of Weibo in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $11.98.

Weibo Trading Down 7.0 %

The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 5.37, a P/E/G ratio of 1.24 and a beta of 0.44. The company has a quick ratio of 2.38, a current ratio of 2.51 and a debt-to-equity ratio of 0.54. The company’s 50 day simple moving average is $9.09 and its two-hundred day simple moving average is $10.18.

Weibo (NASDAQ:WB) last announced its earnings results on Thursday, March 14th. The information services provider reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.14). The firm had revenue of $463.67 million during the quarter, compared to analyst estimates of $452.30 million. Weibo had a net margin of 19.47% and a return on equity of 10.77%. As a group, research analysts anticipate that Weibo Co. will post 1.64 earnings per share for the current fiscal year.

Weibo Cuts Dividend

The company also recently announced a — dividend, which will be paid on Monday, May 13th. Shareholders of record on Friday, April 12th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Thursday, April 11th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS Group AG raised its holdings in shares of Weibo by 1,360.0% in the third quarter. UBS Group AG now owns 2,268,124 shares of the information services provider’s stock worth $28,442,000 after buying an additional 2,112,773 shares during the last quarter. Quadrature Capital Ltd raised its holdings in shares of Weibo by 38.2% in the third quarter. Quadrature Capital Ltd now owns 32,887 shares of the information services provider’s stock worth $413,000 after buying an additional 9,093 shares during the last quarter. SeaTown Holdings Pte. Ltd. raised its holdings in shares of Weibo by 75.0% during the third quarter. SeaTown Holdings Pte. Ltd. now owns 350,000 shares of the information services provider’s stock worth $4,389,000 after purchasing an additional 150,000 shares during the last quarter. Aviva PLC raised its holdings in shares of Weibo by 6.8% during the third quarter. Aviva PLC now owns 47,259 shares of the information services provider’s stock worth $593,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in shares of Weibo during the third quarter worth $1,181,000. Hedge funds and other institutional investors own 68.77% of the company’s stock.

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.