Federated Hermes Inc. Lowers Stake in Weibo Corporation $WB

Federated Hermes Inc. lessened its holdings in Weibo Corporation (NASDAQ:WB) by 29.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,133,467 shares of the information services provider’s stock after selling 907,059 shares during the period. Federated Hermes Inc.’s holdings in Weibo were worth $20,332,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. AQR Capital Management LLC acquired a new stake in Weibo in the first quarter valued at approximately $117,000. Fox Run Management L.L.C. purchased a new position in shares of Weibo during the 2nd quarter valued at approximately $136,000. Vise Technologies Inc. acquired a new stake in Weibo in the 2nd quarter valued at $179,000. Vanguard Personalized Indexing Management LLC increased its holdings in Weibo by 85.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,815 shares of the information services provider’s stock worth $179,000 after acquiring an additional 8,694 shares in the last quarter. Finally, Kathmere Capital Management LLC raised its position in Weibo by 31.7% during the second quarter. Kathmere Capital Management LLC now owns 20,455 shares of the information services provider’s stock worth $195,000 after acquiring an additional 4,928 shares during the period. Hedge funds and other institutional investors own 68.77% of the company’s stock.

Weibo Price Performance

WB stock opened at $9.99 on Wednesday. Weibo Corporation has a 1 year low of $7.10 and a 1 year high of $12.96. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.35 and a quick ratio of 3.35. The firm has a market capitalization of $2.44 billion, a PE ratio of 5.68, a price-to-earnings-growth ratio of 4.97 and a beta of 0.13. The business has a 50 day simple moving average of $10.88 and a 200-day simple moving average of $10.65.

Weibo (NASDAQ:WB) last announced its quarterly earnings data on Tuesday, November 18th. The information services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The company had revenue of $442.31 million for the quarter, compared to analysts’ expectations of $447.88 million. Weibo had a return on equity of 11.79% and a net margin of 26.58%.The business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 EPS. Equities research analysts anticipate that Weibo Corporation will post 1.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Citigroup lifted their target price on shares of Weibo from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weibo in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut Weibo from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Weibo presently has an average rating of “Moderate Buy” and an average target price of $14.00.

Weibo Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute content in the People’s Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.