AIA Group Ltd Takes $1.40 Million Position in Weibo Corporation $WB

AIA Group Ltd purchased a new stake in shares of Weibo Corporation (NASDAQ:WB) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 112,653 shares of the information services provider’s stock, valued at approximately $1,397,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Krane Funds Advisors LLC grew its position in Weibo by 25.0% during the third quarter. Krane Funds Advisors LLC now owns 4,676,063 shares of the information services provider’s stock valued at $57,983,000 after buying an additional 934,898 shares during the period. UBS Group AG boosted its stake in shares of Weibo by 102.8% during the 3rd quarter. UBS Group AG now owns 1,377,705 shares of the information services provider’s stock worth $17,084,000 after purchasing an additional 698,521 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Weibo by 497.1% during the second quarter. JPMorgan Chase & Co. now owns 720,348 shares of the information services provider’s stock valued at $6,865,000 after buying an additional 599,700 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Weibo by 99.8% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,045,801 shares of the information services provider’s stock valued at $12,968,000 after buying an additional 522,400 shares in the last quarter. Finally, First Trust Advisors LP purchased a new stake in shares of Weibo in the third quarter valued at approximately $4,194,000. 68.77% of the stock is owned by institutional investors.

Weibo Stock Performance

NASDAQ WB opened at $8.66 on Friday. Weibo Corporation has a 1-year low of $7.10 and a 1-year high of $12.96. The company has a market capitalization of $2.12 billion, a P/E ratio of 5.09, a PEG ratio of 4.60 and a beta of 0.13. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.39 and a quick ratio of 3.35. The business has a 50 day moving average price of $10.17 and a 200 day moving average price of $10.73.

Weibo (NASDAQ:WB) last released its earnings results on Wednesday, March 18th. The information services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.07). Weibo had a net margin of 25.55% and a return on equity of 10.63%. The business had revenue of $473.26 million during the quarter, compared to analyst estimates of $444.28 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Sell-side analysts expect that Weibo Corporation will post 1.62 EPS for the current fiscal year.

Weibo Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, April 17th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, April 17th. This represents a dividend yield of 706.0%. Weibo’s dividend payout ratio is 47.06%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weibo in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

About Weibo

Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.

Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.