Stevens Capital Management LP Boosts Holdings in SINA Corp (NASDAQ:SINA)
Stevens Capital Management LP lifted its position in SINA Corp (NASDAQ:SINA) by 70.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,649 shares of the technology company’s stock after acquiring an additional 23,043 shares during the quarter. Stevens Capital Management LP owned approximately 0.08% of SINA worth $4,713,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global X Management Co. LLC grew its position in shares of SINA by 18.2% in the 1st quarter. Global X Management Co. LLC now owns 106,336 shares of the technology company’s stock valued at $11,088,000 after acquiring an additional 16,349 shares during the period. Ariose Capital Management Ltd grew its position in shares of SINA by 472.9% in the 1st quarter. Ariose Capital Management Ltd now owns 531,400 shares of the technology company’s stock valued at $55,409,000 after acquiring an additional 438,644 shares during the period. Commerzbank Aktiengesellschaft FI grew its position in shares of SINA by 10.7% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 9,767 shares of the technology company’s stock valued at $1,018,000 after acquiring an additional 945 shares during the period. Dorsey Wright & Associates grew its position in shares of SINA by 36.9% in the 1st quarter. Dorsey Wright & Associates now owns 107,834 shares of the technology company’s stock valued at $10,715,000 after acquiring an additional 29,057 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in shares of SINA by 67.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,298 shares of the technology company’s stock valued at $2,514,000 after acquiring an additional 2,138 shares during the period. Hedge funds and other institutional investors own 67.09% of the company’s stock.
A number of research analysts have recently commented on SINA shares. Zacks Investment Research raised shares of SINA from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Monday, July 30th. Jefferies Financial Group restated a “buy” rating and set a $144.00 target price on shares of SINA in a research note on Thursday, July 26th. JPMorgan Chase & Co. initiated coverage on shares of SINA in a research note on Wednesday, August 29th. They set an “overweight” rating and a $150.00 target price for the company. ValuEngine cut shares of SINA from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Finally, BidaskClub upgraded shares of SINA from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 12th. Three investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $135.00.
SINA (NASDAQ:SINA) last issued its earnings results on Wednesday, August 8th. The technology company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.50 by $0.39. The company had revenue of $537.36 million during the quarter, compared to analysts’ expectations of $538.10 million. SINA had a net margin of 8.23% and a return on equity of 4.39%. The business’s revenue for the quarter was up 49.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 EPS. sell-side analysts anticipate that SINA Corp will post 2.3 earnings per share for the current fiscal year.
SINA Corporation, through its subsidiaries, operates as an online media company in the People's Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including multimedia news; business news coverage and personal finance columns; sporting events news; automobile-related news; entertainment news and events; technology updates; interactive video products, such as news, sports, and entertainment; and education, digital, fashion, luxury, health, collectibles, travel, and other interest-based channels.
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