SINA (NASDAQ:SINA) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday.
Several other equities research analysts have also issued reports on SINA. Jefferies Group reiterated a “buy” rating and set a $175.00 price target on shares of SINA in a report on Wednesday, January 24th. Zacks Investment Research raised SINA from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 24th. Finally, Benchmark raised their price objective on SINA from $142.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $129.50.
Shares of SINA (SINA) traded up $3.22 during trading on Thursday, hitting $104.38. The stock had a trading volume of 1,500,000 shares, compared to its average volume of 903,995. The firm has a market cap of $7,460.00, a price-to-earnings ratio of 59.31 and a beta of 1.06. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.04. SINA has a fifty-two week low of $68.13 and a fifty-two week high of $122.93.
Several hedge funds have recently modified their holdings of SINA. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of SINA in the 4th quarter valued at approximately $126,000. Verition Fund Management LLC bought a new position in shares of SINA in the 2nd quarter valued at approximately $205,000. Stifel Financial Corp bought a new position in shares of SINA in the 3rd quarter valued at approximately $210,000. Sheaff Brock Investment Advisors LLC bought a new position in shares of SINA in the 3rd quarter valued at approximately $214,000. Finally, B. Riley Financial Inc. bought a new position in shares of SINA in the 4th quarter valued at approximately $234,000. 69.34% of the stock is currently owned by institutional investors and hedge funds.
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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