Mirae Asset Global Investments Co. Ltd. Sells 44,621 Shares of Weibo Co. (NASDAQ:WB)

Mirae Asset Global Investments Co. Ltd. lowered its position in Weibo Co. (NASDAQ:WB) by 38.2% in the 4th quarter, Holdings Channel reports. The firm owned 72,127 shares of the information services provider’s stock after selling 44,621 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Weibo were worth $790,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WB. Profund Advisors LLC bought a new stake in Weibo in the third quarter worth about $133,000. abrdn plc lifted its stake in Weibo by 7.6% in the third quarter. abrdn plc now owns 11,710 shares of the information services provider’s stock worth $147,000 after purchasing an additional 829 shares during the last quarter. Quantbot Technologies LP lifted its stake in Weibo by 353.7% in the third quarter. Quantbot Technologies LP now owns 21,500 shares of the information services provider’s stock worth $270,000 after purchasing an additional 16,761 shares during the last quarter. Headlands Technologies LLC lifted its stake in Weibo by 33.8% in the third quarter. Headlands Technologies LLC now owns 24,129 shares of the information services provider’s stock worth $303,000 after purchasing an additional 6,097 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its stake in 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 purchasing an additional 9,093 shares during the last quarter. Institutional investors own 68.77% of the company’s stock.

Wall Street Analyst Weigh In

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

Weibo Stock Performance

Shares of WB stock opened at $8.53 on Thursday. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 6.01, a PEG ratio of 1.23 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. Weibo Co. has a 52-week low of $7.58 and a 52-week high of $18.10. The company’s 50 day moving average is $8.94 and its 200 day moving average is $9.94.

Weibo (NASDAQ:WB) last announced its quarterly earnings data on Thursday, March 14th. The information services provider reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.14). The company had revenue of $463.67 million for the quarter, compared to analysts’ expectations of $452.30 million. Weibo had a net margin of 19.47% and a return on equity of 10.77%. On average, sell-side analysts anticipate that Weibo Co. will post 1.64 EPS for the current fiscal year.

Weibo Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, April 12th will be issued a dividend of $0.80 per share. The ex-dividend date is Thursday, April 11th.

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.