SG Americas Securities LLC, a prominent institutional investor, recently reduced its holdings in Weibo Co. (NASDAQ: WB) by 31.9% during the second quarter of this year. This information was disclosed in the company’s Form 13F filing with the Securities and Exchange Commission. As a result, SG Americas Securities LLC now possesses 25,690 shares of Weibo’s stock after selling 12,044 shares during the mentioned period. The estimated worth of SG Americas Securities LLC’s holdings in Weibo stands at $337,000.
Weibo Corporation is recognized for its role as a social media platform that allows individuals to create, distribute, and explore content within the People’s Republic of China. The company operates through two main segments: Advertising and Marketing Services; and Value-Added Services. By offering discovery products that aid users in finding content on its platform and self-expression products that facilitate user engagement, Weibo strives to foster social interaction among its users.
These recent developments signal changes in investment strategies for SG Americas Securities LLC while shedding light on the current market trends surrounding Weibo Co. As an important player in China’s social media landscape, Weibo continues to attract investor attention due to its potential for growth and innovation within the digital space.
It is important to note that this article references information available as of September 30, 2023. However, as the stock market is subject to constant fluctuations and unpredictable events, it is advised to consult updated sources for accurate data regarding Weibo Co.’s current status and any subsequent developments related to SG Americas Securities LLC’s holdings.
In conclusion, SG Americas Securities LLC has significantly reduced its stake in Weibo Co., a prominent social media platform operating within China. These actions highlight shifts in investment strategies within the market while also shedding light on Weibo’s position as an influential player in China’s digital landscape. These developments demonstrate the ever-changing nature of investments and serve as a reminder of the need to stay informed about current market trends.
Updated on: 02/03/2024
Debt to equity ratio: Buy
Price to earnings ratio: Buy
Price to book ratio: Buy
DCF: Strong Buy
We did not find social sentiment data for this stock
|Analyst / firm
SG Americas Securities LLC Decreases Holdings in Weibo Co. by 31.9%
Institutional investors have been making significant changes to their positions in Weibo (NASDAQ:WB), a leading information services provider. Toroso Investments LLC, for instance, has boosted its stake in the company by 2.9% during the first quarter of this year. As a result, they now own 19,319 shares of Weibo’s stock valued at $474,000, after acquiring an additional 546 shares in the last quarter.
Similarly, Legacy Wealth Asset Management LLC increased its stake in Weibo by 1.6% during the same period, now owning 40,106 shares worth $805,000. Advisor Group Holdings Inc. experienced even more significant growth in their investment with a staggering 88.9% increase in their stake during the first quarter of this year. They now own 1,383 shares worth $35,000.
Korea Investment CORP also raised its holdings in Weibo by 1.4% during the first quarter, now owning 73,150 shares valued at $1,467,000. Finally, Franklin Resources Inc., lifted its position in Weibo by 8.5% during the fourth quarter and currently holds 13,055 shares worth $250,000.
These recent changes have resulted in institutional investors owning approximately 29.81% of Weibo’s stock.
Meanwhile, research analysts have shared their insights and opinions on Weibo’s performance lately. UBS Group downgraded the company from a “buy” rating to “neutral” and lowered their target price for the stock from $33.00 to $15.50 back on June 13th.
Citigroup also dropped its price objective on Weibo from $20.00 to $18.00 and maintained a “buy” rating for the company on August 25th.
Benchmark took an even stronger stance as they cut their rating from “buy” to “hold” on the same day. StockNews.com, on the other hand, initiated coverage on Weibo in August and labeled it a “buy” rating.
Lastly, 58.com restated a “downgrade” rating on shares of Weibo in June. In total, there are three equities research analysts who have rated the stock as “hold,” while four have given it a “buy” rating.
According to Bloomberg, Weibo currently has a consensus rating of “Moderate Buy” with a target price averaging $20.87 among analysts.
The shares of Weibo opened at $12.54 on Friday. As of that date, the company has a market capitalization of $2.94 billion, with a price-to-earnings ratio standing at 9.72. Additionally, it holds a P/E/G ratio of 1.33 and has a beta value of 0.58.
Throughout the past year, Weibo’s stock has fluctuated between its lowest point at $10.02 and its highest at $25.57.
Looking at the financials released recently by Weibo, it can be noted that the information services provider reported earnings per share (EPS) of $0.53 for the last quarter. This result surpassed analysts’ consensus estimates by $0.02.
Furthermore, Weibo’s return on equity stands at an impressive 13.22%, along with a net margin of 17.47%. The firm generated revenue amounting to $440.20 million for the same quarter – although this figure was slightly lower than analyst expectations ($442.66 million). It’s worth noting that compared to the previous year, Weibo experienced a decrease of 2.2% in revenue during this quarter.
Sell-side analysts are now forecasting that Weibo Co.’s EPS for the current fiscal year will reach 1.64.
In conclusion, recent changes made by institutional investors in Weibo, coupled with analysts’ opinions on the stock, indicate that the company’s performance has garnered attention and is being closely scrutinized. With a consensus rating of “Moderate Buy” and the target price averaging $20.87, it remains to be seen how Weibo will fare in the coming months.