Mangrove Partners IM LLC Acquires Shares of 72,057 Weibo Corporation $WB

Mangrove Partners IM LLC acquired a new position in Weibo Corporation (NASDAQ:WB) in the third quarter, Holdings Channel reports. The institutional investor acquired 72,057 shares of the information services provider’s stock, valued at approximately $894,000.

A number of other large investors have also recently made changes to their positions in WB. Daiwa Securities Group Inc. purchased a new stake in shares of Weibo during the 2nd quarter valued at about $61,000. AQR Capital Management LLC purchased a new position in Weibo in the first quarter worth about $117,000. Fox Run Management L.L.C. purchased a new position in Weibo in the second quarter worth about $136,000. Savant Capital LLC bought a new stake in Weibo during the third quarter worth approximately $153,000. Finally, CANADA LIFE ASSURANCE Co bought a new stake in Weibo during the second quarter worth approximately $155,000. 68.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Weibo in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Weibo currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Weibo Price Performance

WB opened at $9.75 on Friday. The business has a fifty day moving average of $10.32 and a 200 day moving average of $10.81. The stock has a market cap of $2.38 billion, a P/E ratio of 5.54, a PEG ratio of 5.19 and a beta of 0.13. The company has a quick ratio of 3.35, a current ratio of 3.35 and a debt-to-equity ratio of 0.48. Weibo Corporation has a 52-week low of $7.10 and a 52-week high of $12.96.

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.