Weibo (NASDAQ:WB) Hits New 52-Week Low at $7.16

Weibo Co. (NASDAQ:WB)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $7.16 and last traded at $7.17, with a volume of 83124 shares trading hands. The stock had previously closed at $7.29.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WB shares. Morgan Stanley cut their target price on Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Nomura Securities upgraded shares of Weibo to a “hold” rating in a research report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $9.88.

Weibo Stock Performance

The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 6.13, a P/E/G ratio of 1.23 and a beta of 0.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.34 and a current ratio of 2.34. The stock has a fifty day simple moving average of $7.84 and a two-hundred day simple moving average of $8.49.

Weibo (NASDAQ:WB) last issued its earnings results on Thursday, August 22nd. The information services provider reported $0.48 EPS for the quarter, beating the consensus estimate of $0.38 by $0.10. Weibo had a return on equity of 11.01% and a net margin of 18.52%. The company had revenue of $437.90 million during the quarter, compared to the consensus estimate of $437.97 million. During the same period last year, the business posted $0.42 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts forecast that Weibo Co. will post 1.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Weibo

Several large investors have recently bought and sold shares of the stock. ARGA Investment Management LP grew its position in Weibo by 14.5% in the 4th quarter. ARGA Investment Management LP now owns 6,825,571 shares of the information services provider’s stock worth $74,740,000 after purchasing an additional 864,120 shares in the last quarter. Krane Funds Advisors LLC grew its position in Weibo by 17.4% in the 2nd quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider’s stock worth $29,213,000 after purchasing an additional 564,068 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Weibo by 199.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,075,326 shares of the information services provider’s stock worth $33,675,000 after purchasing an additional 2,047,135 shares in the last quarter. Acadian Asset Management LLC grew its position in Weibo by 204.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider’s stock worth $18,678,000 after purchasing an additional 1,634,230 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Weibo by 64.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,309,385 shares of the information services provider’s stock worth $10,056,000 after purchasing an additional 511,248 shares in the last quarter. 68.77% of the stock is currently owned by institutional investors.

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.