SINA Corp (SINA) Sees Large Drop in Short Interest
SINA Corp (NASDAQ:SINA) saw a large drop in short interest in December. As of December 29th, there was short interest totalling 611,002 shares, a drop of 38.4% from the December 15th total of 992,441 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average trading volume of 472,438 shares, the days-to-cover ratio is currently 1.3 days.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Navellier & Associates Inc lifted its holdings in SINA by 2.2% during the 2nd quarter. Navellier & Associates Inc now owns 13,554 shares of the technology company’s stock worth $1,152,000 after buying an additional 295 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in SINA by 10.0% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,500 shares of the technology company’s stock worth $631,000 after buying an additional 500 shares during the period. AMP Capital Investors Ltd lifted its holdings in SINA by 9.4% during the 3rd quarter. AMP Capital Investors Ltd now owns 9,300 shares of the technology company’s stock worth $1,066,000 after buying an additional 800 shares during the period. GSA Capital Partners LLP lifted its holdings in SINA by 27.2% during the 2nd quarter. GSA Capital Partners LLP now owns 5,414 shares of the technology company’s stock worth $460,000 after buying an additional 1,157 shares during the period. Finally, Voya Investment Management LLC lifted its holdings in SINA by 18.3% during the 2nd quarter. Voya Investment Management LLC now owns 7,976 shares of the technology company’s stock worth $678,000 after buying an additional 1,231 shares during the period. 69.26% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on SINA shares. BidaskClub downgraded SINA from a “hold” rating to a “sell” rating in a report on Saturday, December 2nd. Benchmark raised their price objective on SINA from $142.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Finally, Zacks Investment Research downgraded SINA from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. SINA presently has an average rating of “Buy” and an average price target of $120.67.
SINA (NASDAQ:SINA) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.26. The firm had revenue of $440.50 million for the quarter, compared to the consensus estimate of $404.71 million. SINA had a return on equity of 3.36% and a net margin of 9.41%. The business’s quarterly revenue was up 60.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 EPS. equities analysts anticipate that SINA will post 2.13 earnings per share for the current fiscal year.
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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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