Balyasny Asset Management L.P. Invests $276,000 in Weibo Co. (NASDAQ:WB)

Balyasny Asset Management L.P. acquired a new stake in shares of Weibo Co. (NASDAQ:WB) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 28,905 shares of the information services provider’s stock, valued at approximately $276,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Weibo by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 2,811,872 shares of the information services provider’s stock valued at $26,853,000 after purchasing an additional 52,598 shares in the last quarter. Causeway Capital Management LLC boosted its stake in shares of Weibo by 14.8% during the fourth quarter. Causeway Capital Management LLC now owns 2,259,267 shares of the information services provider’s stock valued at $21,576,000 after purchasing an additional 292,086 shares in the last quarter. Invesco Ltd. boosted its stake in Weibo by 34.0% in the fourth quarter. Invesco Ltd. now owns 1,719,174 shares of the information services provider’s stock valued at $16,418,000 after acquiring an additional 436,215 shares in the last quarter. Norges Bank acquired a new stake in Weibo in the fourth quarter valued at approximately $11,274,000. Finally, Wellington Management Group LLP boosted its stake in Weibo by 1,641.9% in the fourth quarter. Wellington Management Group LLP now owns 1,048,522 shares of the information services provider’s stock valued at $10,013,000 after acquiring an additional 988,327 shares in the last quarter. 68.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Weibo from a “buy” rating to a “hold” rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Weibo currently has an average rating of “Hold” and a consensus price target of $9.75.

Weibo Price Performance

Shares of WB opened at $8.50 on Friday. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 5.82 and a beta of 0.01. Weibo Co. has a twelve month low of $7.03 and a twelve month high of $12.40. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $8.78 and a two-hundred day moving average of $9.44.

Weibo Dividend Announcement

The company also recently announced an annual dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 9th were paid a $0.82 dividend. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a yield of 7.77%. Weibo’s dividend payout ratio (DPR) is 68.97%.

Weibo 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.