SINA Corp (NASDAQ:SINA)’s share price dropped 6.1% on Thursday . The company traded as low as $101.11 and last traded at $101.16. Approximately 1,204,266 shares were traded during mid-day trading, an increase of 33% from the average daily volume of 904,414 shares. The stock had previously closed at $107.70.
SINA has been the subject of a number of analyst reports. BidaskClub cut SINA from a “hold” rating to a “sell” rating in a report on Saturday, December 2nd. Zacks Investment Research raised SINA from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 24th. Benchmark upped their price target on SINA from $142.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $175.00 price target on shares of SINA in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $129.50.
The company has a market capitalization of $7,234.42, a price-to-earnings ratio of 59.31 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.68 and a current ratio of 2.68.
Several institutional investors have recently made changes to their positions in SINA. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of SINA during the fourth quarter valued at approximately $126,000. Verition Fund Management LLC acquired a new position in shares of SINA during the second quarter valued at approximately $205,000. Stifel Financial Corp acquired a new position in shares of SINA during the third quarter valued at approximately $210,000. Sheaff Brock Investment Advisors LLC acquired a new position in shares of SINA during the third quarter valued at approximately $214,000. Finally, B. Riley Financial Inc. acquired a new position in shares of SINA during the fourth quarter valued at approximately $234,000. 69.34% of the stock is owned by institutional investors and hedge funds.
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SINA Company Profile
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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