Healthcare of Ontario Pension Plan Trust Fund Takes Position in Weibo Co. (NASDAQ:WB)

Healthcare of Ontario Pension Plan Trust Fund bought a new position in Weibo Co. (NASDAQ:WB) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 817,900 shares of the information services provider’s stock, valued at approximately $7,435,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.35% of Weibo as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. New York State Common Retirement Fund increased its position in shares of Weibo by 5.7% during the fourth quarter. New York State Common Retirement Fund now owns 61,627 shares of the information services provider’s stock valued at $675,000 after purchasing an additional 3,338 shares during the period. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Weibo by 4.7% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 134,393 shares of the information services provider’s stock valued at $1,222,000 after acquiring an additional 6,000 shares during the period. DGS Capital Management LLC increased its holdings in Weibo by 42.1% in the fourth quarter. DGS Capital Management LLC now owns 23,121 shares of the information services provider’s stock valued at $253,000 after purchasing an additional 6,850 shares during the last quarter. abrdn plc increased its holdings in Weibo by 59.4% in the fourth quarter. abrdn plc now owns 18,665 shares of the information services provider’s stock valued at $204,000 after purchasing an additional 6,955 shares during the last quarter. Finally, Truist Financial Corp bought a new stake in shares of Weibo in the fourth quarter worth about $117,000. 68.77% of the stock is owned by institutional investors.

Weibo Price Performance

Shares of WB traded up $0.02 during midday trading on Thursday, hitting $7.72. The company’s stock had a trading volume of 838,276 shares, compared to its average volume of 2,061,543. Weibo Co. has a one year low of $7.58 and a one year high of $16.02. The company’s fifty day simple moving average is $8.37 and its two-hundred day simple moving average is $8.74. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 6.54, a price-to-earnings-growth ratio of 1.31 and a beta of 0.21.

Weibo (NASDAQ:WB) last issued its quarterly earnings results on Thursday, May 23rd. The information services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. Weibo had a return on equity of 10.92% and a net margin of 16.74%. The company had revenue of $395.50 million for the quarter, compared to analyst estimates of $396.50 million. As a group, equities analysts expect that Weibo Co. will post 1.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WB. The Goldman Sachs Group reissued a “neutral” rating and set a $10.60 price target on shares of Weibo in a research report on Thursday, March 28th. Morgan Stanley lowered Weibo from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $11.00 to $10.00 in a research note on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Weibo has a consensus rating of “Hold” and an average price target of $11.65.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover 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.