The Manufacturers Life Insurance Company decreased its holdings in SINA Co. (NASDAQ:SINA) by 36.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,100 shares of the technology company’s stock after selling 3,500 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in SINA were worth $259,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wetherby Asset Management Inc. bought a new position in shares of SINA in the third quarter worth about $195,000. Redpoint Investment Management Pty Ltd bought a new position in shares of SINA in the fourth quarter worth about $224,000. ExodusPoint Capital Management LP bought a new position in shares of SINA in the third quarter worth about $366,000. Vident Investment Advisory LLC boosted its stake in shares of SINA by 94.6% in the fourth quarter. Vident Investment Advisory LLC now owns 10,666 shares of the technology company’s stock worth $452,000 after acquiring an additional 5,185 shares during the period. Finally, GSA Capital Partners LLP bought a new position in shares of SINA in the fourth quarter worth about $539,000. 49.44% of the stock is owned by hedge funds and other institutional investors.
NASDAQ SINA opened at $43.26 on Wednesday. The business has a 50-day moving average price of $43.22 and a 200-day moving average price of $42.90. SINA Co. has a twelve month low of $28.67 and a twelve month high of $45.68. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of -29.63 and a beta of 0.98. The company has a quick ratio of 2.65, a current ratio of 2.65 and a debt-to-equity ratio of 0.48.
SINA Corporation, together with its subsidiaries, operates as an online media company in the People's Republic of China and internationally. The company operates SINA.com, an online media property that provides region-focused format and content, including feeds from news providers; business news coverage and personal finance columns; sporting events information; entertainment news and events; automobile-related news and service information; 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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