Connor Clark & Lunn Investment Management Ltd. Raises Holdings in Weibo Co. (NASDAQ:WB)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Weibo Co. (NASDAQ:WB) by 525.6% in the 4th quarter, HoldingsChannel reports. The fund owned 82,960 shares of the information services provider’s stock after buying an additional 69,699 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Weibo were worth $792,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Two Sigma Advisers LP lifted its holdings in Weibo by 1.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,153,088 shares of the information services provider’s stock worth $11,623,000 after buying an additional 19,200 shares during the period. State Street Corp lifted its holdings in Weibo by 0.7% in the 3rd quarter. State Street Corp now owns 931,749 shares of the information services provider’s stock worth $9,392,000 after buying an additional 6,369 shares during the period. Citigroup Inc. lifted its holdings in Weibo by 347.3% in the 3rd quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock worth $6,077,000 after buying an additional 468,072 shares during the period. Polunin Capital Partners Ltd lifted its holdings in Weibo by 14.6% in the 4th quarter. Polunin Capital Partners Ltd now owns 575,750 shares of the information services provider’s stock worth $5,600,000 after buying an additional 73,412 shares during the period. Finally, E Fund Management Co. Ltd. lifted its holdings in Weibo by 1,003.7% in the 4th quarter. E Fund Management Co. Ltd. now owns 458,206 shares of the information services provider’s stock worth $4,376,000 after buying an additional 416,690 shares during the period. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

Weibo Stock Down 0.5 %

Shares of NASDAQ:WB opened at $10.12 on Friday. Weibo Co. has a 52-week low of $7.03 and a 52-week high of $12.40. The firm has a market capitalization of $2.46 billion, a P/E ratio of 6.93 and a beta of 0.27. The stock has a 50 day moving average price of $10.33 and a 200-day moving average price of $9.58. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.57 and a current ratio of 3.57.

Weibo Dividend Announcement

The company also recently announced an annual dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 9th will be given a $0.82 dividend. This represents a dividend yield of 7.77%. The ex-dividend date is Wednesday, April 9th. Weibo’s dividend payout ratio is currently 68.97%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Weibo from a “hold” rating to a “buy” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.03.

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.