Sina Corporation (SINA) Short Interest Update
Sina Corporation (NASDAQ:SINA) was the target of a significant drop in short interest in October. As of October 13th, there was short interest totalling 697,327 shares, a drop of 23.0% from the September 29th total of 905,263 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily volume of 907,433 shares, the short-interest ratio is presently 0.8 days.
Shares of Sina Corporation (NASDAQ SINA) opened at 105.00 on Friday. The firm’s 50-day moving average is $114.13 and its 200-day moving average is $96.16. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 34.38 and a beta of 1.16. Sina Corporation has a 12-month low of $60.46 and a 12-month high of $119.20.
Sina Corporation (NASDAQ:SINA) last announced its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.27. Sina Corporation had a net margin of 18.64% and a return on equity of 6.58%. The firm had revenue of $358.93 million during the quarter, compared to analysts’ expectations of $344.23 million. During the same period in the prior year, the company posted $0.27 EPS. The company’s revenue was up 47.1% on a year-over-year basis. Analysts predict that Sina Corporation will post $2.92 earnings per share for the current fiscal year.
A number of analysts recently weighed in on SINA shares. Jefferies Group LLC reissued a “buy” rating on shares of Sina Corporation in a report on Friday, August 11th. Bank of America Corporation reissued a “buy” rating and issued a $119.00 price target (up previously from $112.00) on shares of Sina Corporation in a report on Thursday, August 10th. Citigroup Inc. raised their price target on shares of Sina Corporation to $140.00 and gave the company a “buy” rating in a report on Thursday, August 10th. BidaskClub lowered shares of Sina Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research lowered shares of Sina Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $104.08.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can increased its position in Sina Corporation by 11.7% in the 2nd quarter. Bank of Montreal Can now owns 1,452 shares of the technology company’s stock valued at $123,000 after acquiring an additional 152 shares during the period. US Bancorp DE increased its position in Sina Corporation by 55.1% in the 2nd quarter. US Bancorp DE now owns 1,501 shares of the technology company’s stock valued at $127,000 after acquiring an additional 533 shares during the period. Bronfman E.L. Rothschild L.P. acquired a new position in Sina Corporation in the 2nd quarter valued at approximately $136,000. ETF Managers Group LLC acquired a new position in Sina Corporation in the 2nd quarter valued at approximately $180,000. Finally, Nomura Asset Management Co. Ltd. increased its position in Sina Corporation by 11.0% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,330 shares of the technology company’s stock valued at $168,000 after acquiring an additional 230 shares during the period. Hedge funds and other institutional investors own 67.04% of the company’s stock.
Sina Corporation Company Profile
Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.
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