Wellington Management Group LLP Has $17.16 Million Stock Position in Weibo Corporation $WB

Wellington Management Group LLP grew its position in Weibo Corporation (NASDAQ:WB) by 41.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,363,373 shares of the information services provider’s stock after purchasing an additional 697,778 shares during the period. Wellington Management Group LLP’s holdings in Weibo were worth $17,158,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of WB. EverSource Wealth Advisors LLC increased its holdings in shares of Weibo by 337.5% during the first quarter. EverSource Wealth Advisors LLC now owns 3,876 shares of the information services provider’s stock worth $34,000 after purchasing an additional 2,990 shares during the period. Daiwa Securities Group Inc. acquired a new position in Weibo during the second quarter worth about $61,000. FourThought Financial Partners LLC acquired a new position in Weibo during the 4th quarter worth approximately $110,000. AQR Capital Management LLC acquired a new position in shares of Weibo during the first quarter worth $117,000. Finally, Verition Fund Management LLC bought a new position in Weibo in the fourth quarter valued at about $138,000. 68.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WB shares. Zacks Research raised shares of Weibo from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. Jefferies Financial Group reissued a “buy” rating and issued a $9.80 price target on shares of Weibo in a research note on Thursday, May 28th. Citigroup lowered shares of Weibo from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $9.30 to $7.80 in a report on Thursday, August 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Weibo in a report on Friday, July 24th. Finally, Benchmark reaffirmed a “hold” rating on shares of Weibo in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Weibo presently has a consensus rating of “Reduce” and an average price target of $8.80.

Weibo Price Performance

Shares of NASDAQ:WB opened at $6.72 on Monday. Weibo Corporation has a fifty-two week low of $6.71 and a fifty-two week high of $12.96. The company’s 50-day moving average is $7.55 and its 200 day moving average is $8.25. The company has a market capitalization of $1.65 billion, a P/E ratio of 5.55, a price-to-earnings-growth ratio of 4.28 and a beta of 0.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.59 and a current ratio of 3.59.

Weibo (NASDAQ:WB) last issued its quarterly earnings results on Thursday, August 20th. The information services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. Weibo had a net margin of 17.78% and a return on equity of 8.87%. The company had revenue of $453.83 million during the quarter, compared to analyst estimates of $442.45 million. On average, equities research analysts forecast that Weibo Corporation will post 1.19 earnings per share for the current year.

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.