Royal Bank of Canada lowered its stake in SINA Co. (NASDAQ:SINA) by 28.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,150 shares of the technology company’s stock after selling 2,499 shares during the quarter. Royal Bank of Canada’s holdings in SINA were worth $522,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in SINA by 1,354.9% in the 1st quarter. BlackRock Inc. now owns 2,502,738 shares of the technology company’s stock valued at $180,498,000 after buying an additional 2,702,176 shares in the last quarter. US Bancorp DE lifted its stake in SINA by 55.1% in the 2nd quarter. US Bancorp DE now owns 1,501 shares of the technology company’s stock valued at $127,000 after buying an additional 533 shares in the last quarter. Eqis Capital Management Inc. lifted its stake in SINA by 25.0% in the 2nd quarter. Eqis Capital Management Inc. now owns 11,114 shares of the technology company’s stock valued at $944,000 after buying an additional 2,221 shares in the last quarter. Essex Investment Management Co. LLC purchased a new stake in SINA in the 2nd quarter valued at approximately $1,077,000. Finally, Aberdeen Asset Management PLC UK lifted its stake in SINA by 13.7% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 49,683 shares of the technology company’s stock valued at $4,222,000 after buying an additional 6,000 shares in the last quarter. 68.47% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on SINA shares. Bank of America Corporation reaffirmed a “buy” rating and issued a $119.00 target price (up previously from $112.00) on shares of SINA in a research note on Thursday, August 10th. Benchmark Co. upped their target price on SINA from $142.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Zacks Investment Research lowered SINA from a “hold” rating to a “strong sell” rating in a research note on Monday, August 14th. Citigroup Inc. upped their target price on SINA to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 10th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of SINA in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $109.96.
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SINA Co. (SINA) opened at $105.84 on Monday. SINA Co. has a 52 week low of $60.46 and a 52 week high of $119.20. The firm has a market capitalization of $7,569.11, a price-to-earnings ratio of 72.49 and a beta of 1.03. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.04.
SINA (NASDAQ:SINA) last issued its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.26. SINA had a return on equity of 3.36% and a net margin of 9.41%. The company had revenue of $440.50 million for the quarter, compared to analyst estimates of $404.71 million. During the same quarter in the prior year, the company posted $0.56 EPS. The business’s revenue for the quarter was up 60.2% compared to the same quarter last year. sell-side analysts expect that SINA Co. will post 2.26 earnings per share for the current year.
Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.
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