Parametric Portfolio Associates LLC increased its stake in SINA Corp (NASDAQ:SINA) by 51.2% in the 1st quarter, HoldingsChannel reports. The fund owned 193,345 shares of the technology company’s stock after acquiring an additional 65,452 shares during the period. Parametric Portfolio Associates LLC’s holdings in SINA were worth $11,454,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Green Court Capital Management Ltd boosted its position in shares of SINA by 17.5% during the fourth quarter. Green Court Capital Management Ltd now owns 1,789,430 shares of the technology company’s stock valued at $95,985,000 after buying an additional 266,059 shares during the period. Krane Funds Advisors LLC boosted its position in shares of SINA by 2.7% during the first quarter. Krane Funds Advisors LLC now owns 856,996 shares of the technology company’s stock valued at $50,768,000 after buying an additional 22,151 shares during the period. Norges Bank purchased a new position in shares of SINA during the fourth quarter valued at approximately $40,222,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of SINA by 16.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 685,210 shares of the technology company’s stock valued at $36,755,000 after buying an additional 96,229 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of SINA by 2.6% during the fourth quarter. Deutsche Bank AG now owns 570,643 shares of the technology company’s stock valued at $30,606,000 after buying an additional 14,654 shares during the period. Institutional investors own 62.07% of the company’s stock.
SINA stock opened at $41.30 on Thursday. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.25. SINA Corp has a fifty-two week low of $38.84 and a fifty-two week high of $96.71. The company has a market cap of $3.02 billion, a PE ratio of 24.29 and a beta of 1.42.
SINA (NASDAQ:SINA) last posted its quarterly earnings results on Thursday, May 23rd. The technology company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.29. SINA had a net margin of 6.06% and a return on equity of 3.47%. The firm had revenue of $475.10 million during the quarter, compared to the consensus estimate of $477.57 million. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts predict that SINA Corp will post 2.14 EPS for the current year.
SINA has been the subject of several recent analyst reports. BidaskClub lowered SINA from a “sell” rating to a “strong sell” rating in a research report on Saturday, March 16th. Goldman Sachs Group upgraded SINA from a “neutral” rating to a “buy” rating and dropped their target price for the company from $71.00 to $61.00 in a research report on Friday, May 31st. Zacks Investment Research lowered SINA from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 23rd. Benchmark boosted their target price on SINA from $96.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Macquarie downgraded shares of SINA from an “outperform” rating to a “neutral” rating and set a $38.00 price target for the company. in a research note on Friday, May 24th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $75.69.
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SINA Company Profile
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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