May 26, 2023 – In the world of finance and investments, staying ahead of the game is crucial. This is why it comes as no surprise that Mirae Asset Global Investments Co. Ltd., a leading investment management firm, has grown its holdings in shares of information services provider Weibo Co. (NASDAQ:WB) by a staggering 48.7%. The company’s most recent disclosure with the Securities and Exchange Commission (SEC) reveals that it owned 122,686 shares of Weibo worth $2,346,000 at the end of the fourth quarter.
Weibo last released its earnings results on March 1st. The information services provider reported an outstanding $0.65 earnings per share for the quarter which were $0.21 higher than analysts’ consensus estimates of $0.44. Revenue for Q4 was also higher than expected at $448 million compared to analyst estimates of $438.61 million. With a net margin of 4.66% and a return on equity of 12.79%, Weibo continues to impress investors.
It comes as no surprise then that investors taking an interest in Weibo continue to grow with every passing day and Mirae Asset Global Investments Co.’s latest move has only reinforced this growing trend.
For those eager to keep up with other hedge funds holding WB or are interested in insider trades for Weibo Co., HoldingsChannel.com provides updated information on all relevant data and filings related to WB.
The fact remains that with such strong earnings results and increasing interest from investment management firms like Mirae Asset Global Investments Co., investing in Weibo could potentially be a smart choice for those looking to expand their financial portfolio.
In conclusion, now more than ever before, keeping abreast with all relevant information concerning potential investments is vital in making informed decisions in today’s fast-paced financial world.
Weibo Continues to Attract Attention of Institutional Investors
Weibo Co. continues to attract the attention of institutional investors, with recent filings revealing that several hedge funds have modified their holdings in the company. Institutional investors now own 27.46% of Weibo’s stock, which is valued at $3.59 billion. Lindbrook Capital LLC has lifted its holdings in the Chinese-language content creator by 82.6%, now owning 1,497 shares worth $29,000. Advisor Group Holdings Inc., Boston Partners, US Bancorp DE and Quadrant Capital Group LLC have also upped their stakes in Weibo during different quarters.
On Friday, May 26th, Weibo opened trading at $15.31. The company has recorded a 1-year high of $25.57 and a low of $10.02 with a market capitalization of $3.59 billion and a price-to-earnings ratio of 42.53 as well as a beta of 0.51%. These figures highlight how Weibo has performed comparably to similar companies in the advertising and marketing industry.
Several analyst reports have been issued regarding Weibo’s performance on the NASDAQ; StockNews.com recently began coverage on the company with a “buy” rating whilst JPMorgan Chase & Co rated it “neutral” earlier this year after conducting research on behalf of their clients.
Founded in Beijing in August 2009 by former SINA CEO Cao Guowei, Weibo Corp operates through Advertising and Marketing Services segments as well as Other Services segments for discovery of online content primarily for entities operating within China’s complex socio-political landscape.
Overall however broad-based social media networks in mainland China are under increasing scrutiny even from mainland authorities so where this will leave platforms like WB only time will tell.
For further information on what other hedge funds are holding WB please visit HoldingsChannel.com where we continue to monitor the latest insider trades for the company (NASDAQ:WB).
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