SINA Corp (NASDAQ:SINA) saw a significant growth in short interest in the month of January. As of January 12th, there was short interest totalling 876,361 shares, a growth of 43.4% from the December 29th total of 611,002 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average trading volume of 733,772 shares, the short-interest ratio is presently 1.2 days.
A number of large investors have recently added to or reduced their stakes in SINA. Koch Industries Inc. bought a new stake in SINA during the second quarter valued at about $1,385,000. Renaissance Technologies LLC bought a new stake in SINA during the second quarter valued at about $52,605,000. Alkeon Capital Management LLC grew its holdings in SINA by 29.3% during the third quarter. Alkeon Capital Management LLC now owns 2,706,876 shares of the technology company’s stock valued at $310,343,000 after purchasing an additional 614,000 shares during the period. Platinum Investment Management Ltd. grew its holdings in SINA by 14.9% during the second quarter. Platinum Investment Management Ltd. now owns 3,348,101 shares of the technology company’s stock valued at $284,488,000 after purchasing an additional 435,220 shares during the period. Finally, State of Wisconsin Investment Board grew its holdings in SINA by 79.4% during the third quarter. State of Wisconsin Investment Board now owns 747,500 shares of the technology company’s stock valued at $85,701,000 after purchasing an additional 330,800 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.
Shares of SINA (NASDAQ:SINA) opened at $122.19 on Friday. SINA has a fifty-two week low of $67.21 and a fifty-two week high of $122.93. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $9,010.00, a PE ratio of 69.43 and a beta of 0.99.
SINA has been the subject of several research analyst reports. Benchmark lifted their price objective on SINA from $142.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Zacks Investment Research lowered SINA from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. BidaskClub lowered SINA from a “hold” rating to a “sell” rating in a report on Saturday, December 2nd. Finally, Jefferies Group reissued a “buy” rating and set a $175.00 price target on shares of SINA in a report on Wednesday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $129.50.
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SINA 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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