Sina (SINA) Cut to “Sell” at BidaskClub
Sina (NASDAQ:SINA) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Saturday.
SINA has been the topic of several other reports. Zacks Investment Research downgraded shares of Sina from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Jefferies Group reiterated a “buy” rating on shares of Sina in a report on Friday, August 11th. Citigroup upped their price target on shares of Sina to $140.00 and gave the company a “buy” rating in a report on Thursday, August 10th. Benchmark upped their price target on shares of Sina from $142.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Finally, Bank of America reiterated a “buy” rating and set a $119.00 price target (up from $112.00) on shares of Sina in a report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Sina presently has a consensus rating of “Buy” and a consensus price target of $115.57.
Shares of Sina (NASDAQ:SINA) traded down $1.98 during midday trading on Friday, hitting $95.79. 1,399,171 shares of the stock traded hands, compared to its average volume of 1,378,340. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.68 and a quick ratio of 2.68. The stock has a market cap of $6,991.99, a PE ratio of 66.97 and a beta of 0.96. Sina has a 52-week low of $60.46 and a 52-week high of $119.20.
Hedge funds have recently modified their holdings of the business. Bank of Montreal Can grew its stake in Sina by 11.7% in the 2nd quarter. Bank of Montreal Can now owns 1,452 shares of the technology company’s stock worth $123,000 after acquiring an additional 152 shares in the last quarter. US Bancorp DE grew its stake in Sina by 55.1% in the 2nd quarter. US Bancorp DE now owns 1,501 shares of the technology company’s stock worth $127,000 after acquiring an additional 533 shares in the last quarter. Bronfman E.L. Rothschild L.P. bought a new position in Sina in the 2nd quarter worth about $136,000. ETF Managers Group LLC bought a new position in Sina in the 2nd quarter worth about $180,000. Finally, Verition Fund Management LLC bought a new position in Sina in the 2nd quarter worth about $205,000. Institutional investors and hedge funds own 69.63% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Sina (SINA) Cut to “Sell” at BidaskClub” was published by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was copied illegally and republished in violation of US & international copyright and trademark law. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/12/02/sina-sina-cut-to-sell-at-bidaskclub.html.
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.
Receive News & Ratings for Sina Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sina Corporation and related companies with MarketBeat.com's FREE daily email newsletter.