SINA (SINA) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of SINA (NASDAQ:SINA) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

According to Zacks, “SINA’s effort to add consumer-centric features to the growing Weibo platform is noteworthy for investors. The company’s partnerships with professional agencies in verticals like e-commerce, video IP and live broadcasting will help it to expand mobile market share. Growing popularity of Weibo and a robust mobile user base in China is a tailwind. Meanwhile, estimates have been stable lately ahead of the company's Q4 earnings release. The company has mixed record of earnings surprise in the recent quarters. However, shares have underperformed the industry in the past year. Intensifying competition within the online advertising business in China is a headwind. Stricter regulation in the micro-lending sector is an overhang. Additionally, Sina’s social media platform Weibo is facing strict regulation that is hurting growth prospects.”

Several other equities research analysts have also commented on the stock. Jefferies Financial Group reissued a buy rating and set a $89.00 price objective on shares of SINA in a research note on Tuesday, November 20th. Benchmark dropped their price objective on shares of SINA from $119.00 to $96.00 and set a buy rating on the stock in a research note on Monday, November 5th. BidaskClub raised shares of SINA from a sell rating to a hold rating in a research note on Wednesday, December 5th. Credit Suisse Group started coverage on shares of SINA in a research note on Monday, February 4th. They set a neutral rating and a $58.50 price objective on the stock. Finally, ValuEngine raised shares of SINA from a strong sell rating to a sell rating in a research note on Saturday, October 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $98.08.

Shares of SINA opened at $62.23 on Monday. The stock has a market cap of $4.28 billion, a PE ratio of 29.78 and a beta of 1.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.99 and a current ratio of 2.99. SINA has a 1-year low of $51.76 and a 1-year high of $124.60.

SINA (NASDAQ:SINA) last announced its earnings results on Wednesday, November 28th. The technology company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.16. The firm had revenue of $557.20 million for the quarter, compared to analyst estimates of $561.76 million. SINA had a net margin of 7.58% and a return on equity of 4.22%. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 EPS. Research analysts expect that SINA will post 2.27 EPS for the current year.

A number of large investors have recently bought and sold shares of the stock. Genesis Asset Managers LLP purchased a new position in SINA in the fourth quarter worth about $188,299,000. Aperio Group LLC raised its holdings in SINA by 55.0% in the third quarter. Aperio Group LLC now owns 44,892 shares of the technology company’s stock worth $3,119,000 after buying an additional 15,922 shares during the last quarter. Verition Fund Management LLC purchased a new position in SINA in the third quarter worth about $822,000. Teachers Advisors LLC raised its holdings in SINA by 3.1% in the third quarter. Teachers Advisors LLC now owns 31,701 shares of the technology company’s stock worth $2,203,000 after buying an additional 943 shares during the last quarter. Finally, Fosun International Ltd raised its holdings in SINA by 10.5% in the third quarter. Fosun International Ltd now owns 1,853,291 shares of the technology company’s stock worth $128,766,000 after buying an additional 176,516 shares during the last quarter. 69.40% of the stock is currently owned by institutional investors and hedge funds.

About SINA

SINA Corporation, through its subsidiaries, operates as an online media company in the People's Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including multimedia news; business news coverage and personal finance columns; sporting events news; automobile-related news; entertainment news and events; 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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