Deltec Asset Management LLC Acquires New Stake in Weibo Co. (NASDAQ:WB)

Deltec Asset Management LLC bought a new position in Weibo Co. (NASDAQ:WB) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 10,616 shares of the information services provider’s stock, valued at approximately $82,000.

Other large investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its position in Weibo by 199.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,075,326 shares of the information services provider’s stock worth $33,675,000 after acquiring an additional 2,047,135 shares in the last quarter. ARGA Investment Management LP lifted its stake in Weibo by 14.5% during the fourth quarter. ARGA Investment Management LP now owns 6,825,571 shares of the information services provider’s stock worth $74,740,000 after purchasing an additional 864,120 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Weibo in the 1st quarter worth about $7,435,000. BNP Paribas Financial Markets increased its position in shares of Weibo by 408.0% during the 4th quarter. BNP Paribas Financial Markets now owns 872,496 shares of the information services provider’s stock valued at $9,554,000 after purchasing an additional 700,758 shares during the last quarter. Finally, Ghisallo Capital Management LLC purchased a new position in shares of Weibo during the 4th quarter valued at about $4,521,000. Institutional investors own 68.77% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley lowered Weibo from an “equal weight” rating to an “underweight” rating and cut 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.65.

Weibo Trading Down 2.2 %

Shares of NASDAQ:WB traded down $0.18 on Wednesday, reaching $7.86. 775,733 shares of the company traded hands, compared to its average volume of 2,017,257. Weibo Co. has a 52 week low of $7.17 and a 52 week high of $14.23. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.57. The business’s 50-day simple moving average is $8.02 and its 200 day simple moving average is $8.64. The stock has a market capitalization of $1.84 billion, a P/E ratio of 6.62, a price-to-earnings-growth ratio of 1.39 and a beta of 0.21.

Weibo (NASDAQ:WB) last posted its quarterly earnings results on Thursday, May 23rd. The information services provider reported $0.34 earnings per share (EPS) for the quarter, topping 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 business had revenue of $395.50 million for the quarter, compared to analyst estimates of $396.50 million. As a group, equities analysts anticipate that Weibo Co. will post 1.41 EPS for the current fiscal year.

About Weibo

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.