Fox Run Management L.L.C. Acquires Shares of 14,240 Weibo Corporation $WB

Fox Run Management L.L.C. purchased a new position in shares of Weibo Corporation (NASDAQ:WB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,240 shares of the information services provider’s stock, valued at approximately $136,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI grew its holdings in Weibo by 28,999,900.0% in the 1st quarter. National Bank of Canada FI now owns 290,000 shares of the information services provider’s stock valued at $2,746,000 after buying an additional 289,999 shares during the period. New York State Common Retirement Fund boosted its position in shares of 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 worth $4,127,000 after acquiring an additional 159,500 shares during the last quarter. Caxton Associates LLP acquired a new position in Weibo during the first quarter worth approximately $1,139,000. Hhlr Advisors LTD. acquired a new position in shares of Weibo in the 1st quarter valued at $947,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Weibo by 89.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 156,863 shares of the information services provider’s stock valued at $1,485,000 after buying an additional 73,903 shares during the period. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Weibo Price Performance

WB opened at $10.06 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.65 and a current ratio of 3.65. The company has a 50-day moving average of $11.67 and a 200-day moving average of $10.45. 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 $2.46 billion, a P/E ratio of 7.03 and a beta of 0.13.

Weibo (NASDAQ:WB) last issued its quarterly earnings results 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. The business had revenue of $444.80 million during the quarter, compared to the consensus estimate of $438.84 million. Weibo had a return on equity of 12.65% and a net margin of 21.10%.The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.48 EPS. Equities analysts expect that Weibo Corporation will post 1.62 EPS for the current fiscal year.

About Weibo

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.