Acadian Asset Management LLC Sells 17,269 Shares of Weibo Corporation $WB

Acadian Asset Management LLC lessened its stake in shares of Weibo Corporation (NASDAQ:WB) by 0.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,948,019 shares of the information services provider’s stock after selling 17,269 shares during the quarter. Acadian Asset Management LLC owned approximately 2.45% of Weibo worth $56,659,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Kathmere Capital Management LLC bought a new position in Weibo during the first quarter worth $147,000. New York State Common Retirement Fund boosted its stake in Weibo by 57.7% in the first quarter. New York State Common Retirement Fund now owns 435,849 shares of the information services provider’s stock valued at $4,127,000 after acquiring an additional 159,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Weibo by 22.4% during the 1st 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 period. Mackenzie Financial Corp bought a new stake in shares of Weibo in the first quarter valued at $351,000. Finally, Harvest Fund Management Co. Ltd grew its stake in Weibo by 66.1% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 58,443 shares of the information services provider’s stock valued at $556,000 after buying an additional 23,247 shares in the last quarter. 68.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on WB. Wall Street Zen cut Weibo from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Citigroup boosted their price objective on shares of Weibo from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weibo in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Weibo currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Weibo Stock Down 1.4%

Shares of Weibo stock opened at $10.44 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.65 and a quick ratio of 3.65. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 7.30 and a beta of 0.13. The company has a 50-day moving average of $11.78 and a 200 day moving average of $10.40. Weibo Corporation has a 1 year low of $7.10 and a 1 year high of $12.96.

Weibo (NASDAQ:WB) last posted its quarterly earnings data on Thursday, August 14th. The information services provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. Weibo had a return on equity of 12.65% and a net margin of 21.10%.The company had revenue of $444.80 million during the quarter, compared to analyst estimates of $438.84 million. During the same quarter last year, the company earned $0.48 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Weibo Corporation will post 1.62 earnings per share for the current fiscal year.

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.