Mangrove Partners IM LLC Makes New Investment in Weibo Corporation $WB

Mangrove Partners IM LLC acquired a new position in Weibo Corporation (NASDAQ:WB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 72,057 shares of the information services provider’s stock, valued at approximately $894,000.

A number of other large investors have also recently made changes to their positions in the stock. Daiwa Securities Group Inc. bought a new position in shares of Weibo during the 2nd quarter valued at approximately $61,000. Savant Capital LLC bought a new stake in Weibo during the 3rd quarter worth approximately $153,000. AQR Capital Management LLC purchased a new position in Weibo during the first quarter valued at approximately $117,000. Vest Financial LLC purchased a new position in Weibo during the third quarter valued at approximately $176,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Weibo in the second quarter worth approximately $136,000. 68.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Weibo in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Weibo Stock Performance

NASDAQ:WB opened at $9.75 on Friday. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 5.54, a PEG ratio of 5.19 and a beta of 0.13. Weibo Corporation has a 1 year low of $7.10 and a 1 year high of $12.96. The stock’s 50 day simple moving average is $10.32 and its two-hundred day simple moving average is $10.81. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.35 and a quick ratio of 3.35.

Weibo Company Profile

Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.

Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.