Parametric Portfolio Associates LLC Increases Position in Sina Corporation (NASDAQ:SINA)

Parametric Portfolio Associates LLC raised its stake in Sina Corporation (NASDAQ:SINA) by 58.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 175,210 shares of the technology company’s stock after buying an additional 64,847 shares during the period. Parametric Portfolio Associates LLC owned about 0.25% of Sina Corporation worth $14,888,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SINA. Bank of Montreal Can lifted its stake in shares of Sina Corporation by 11.7% in the 2nd quarter. Bank of Montreal Can now owns 1,452 shares of the technology company’s stock valued at $123,000 after purchasing an additional 152 shares during the period. US Bancorp DE lifted its stake in shares of Sina Corporation 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 purchasing an additional 533 shares during the period. Bronfman E.L. Rothschild L.P. acquired a new position in shares of Sina Corporation in the 2nd quarter valued at about $136,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Sina Corporation by 11.0% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,330 shares of the technology company’s stock valued at $168,000 after purchasing an additional 230 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in Sina Corporation during the 1st quarter worth approximately $216,000. Hedge funds and other institutional investors own 66.83% of the company’s stock.

Shares of Sina Corporation (SINA) opened at 114.99 on Tuesday. Sina Corporation has a 52-week low of $60.46 and a 52-week high of $119.20. The firm’s 50 day moving average price is $112.44 and its 200 day moving average price is $94.00. The stock has a market cap of $8.19 billion, a P/E ratio of 37.65 and a beta of 1.15.

Sina Corporation (NASDAQ:SINA) last posted its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.27. The firm had revenue of $358.93 million for the quarter, compared to analyst estimates of $344.23 million. Sina Corporation had a net margin of 18.64% and a return on equity of 6.58%. Sina Corporation’s quarterly revenue was up 47.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 earnings per share. On average, analysts expect that Sina Corporation will post $2.92 EPS for the current year.

A number of research analysts recently weighed in on the company. Citigroup Inc. upped their price target on Sina Corporation to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. BidaskClub raised Sina Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Zacks Investment Research downgraded Sina Corporation from a “hold” rating to a “strong sell” rating in a research note on Monday, August 14th. Jefferies Group LLC reissued a “buy” rating on shares of Sina Corporation in a research note on Friday, August 11th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $119.00 price objective (up from $112.00) on shares of Sina Corporation in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Sina Corporation currently has an average rating of “Buy” and a consensus price target of $104.08.

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About Sina Corporation

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.

Institutional Ownership by Quarter for Sina Corporation (NASDAQ:SINA)

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