Bayesian Capital Management LP Buys New Stake in Weibo Co. (NASDAQ:WB)

Bayesian Capital Management LP bought a new stake in Weibo Co. (NASDAQ:WB) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 13,508 shares of the information services provider’s stock, valued at approximately $123,000.

Several other large investors have also recently made changes to their positions in WB. SG Americas Securities LLC grew its holdings in shares of Weibo by 212.9% during the fourth quarter. SG Americas Securities LLC now owns 48,588 shares of the information services provider’s stock worth $532,000 after buying an additional 33,059 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Weibo by 13.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 203,584 shares of the information services provider’s stock worth $2,229,000 after buying an additional 24,000 shares in the last quarter. DGS Capital Management LLC grew its holdings in shares of Weibo by 42.1% during the fourth quarter. DGS Capital Management LLC now owns 23,121 shares of the information services provider’s stock worth $253,000 after buying an additional 6,850 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Weibo by 3.5% during the fourth quarter. Federated Hermes Inc. now owns 5,290,626 shares of the information services provider’s stock worth $57,932,000 after buying an additional 179,482 shares in the last quarter. Finally, abrdn plc grew its holdings in shares of Weibo by 59.4% during the fourth quarter. abrdn plc now owns 18,665 shares of the information services provider’s stock worth $204,000 after buying an additional 6,955 shares in the last quarter. 68.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Morgan Stanley lowered shares of Weibo from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $11.00 to $10.00 in a report on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.65.

Weibo Stock Down 1.6 %

Shares of WB opened at $7.60 on Friday. The company’s 50-day simple moving average is $8.18 and its 200-day simple moving average is $8.67. The stock has a market capitalization of $1.78 billion, a PE ratio of 6.39, a P/E/G ratio of 1.30 and a beta of 0.21. Weibo Co. has a 1 year low of $7.51 and a 1 year high of $15.01. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.24 and a current ratio of 2.24.

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

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.