State of Wisconsin Investment Board Has $11.85 Million Position in SINA Corp (NASDAQ:SINA)

State of Wisconsin Investment Board trimmed its stake in shares of SINA Corp (NASDAQ:SINA) by 35.7% in the 1st quarter, HoldingsChannel reports. The firm owned 200,000 shares of the technology company’s stock after selling 111,194 shares during the period. State of Wisconsin Investment Board’s holdings in SINA were worth $11,848,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its position in shares of SINA by 4.3% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 4,570 shares of the technology company’s stock worth $271,000 after acquiring an additional 190 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of SINA by 66.8% during the 1st quarter. Lindbrook Capital LLC now owns 482 shares of the technology company’s stock worth $28,000 after acquiring an additional 193 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of SINA by 0.7% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,000 shares of the technology company’s stock worth $1,777,000 after acquiring an additional 200 shares in the last quarter. Boston Partners boosted its position in shares of SINA by 1.3% during the 1st quarter. Boston Partners now owns 18,614 shares of the technology company’s stock worth $1,103,000 after acquiring an additional 241 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in SINA by 4.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,734 shares of the technology company’s stock valued at $1,726,000 after acquiring an additional 263 shares during the last quarter. 62.07% of the stock is owned by hedge funds and other institutional investors.

SINA stock opened at $41.42 on Friday. SINA Corp has a 52-week low of $38.84 and a 52-week high of $96.71. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.61 and a current ratio of 2.61. The firm has a market cap of $2.95 billion, a PE ratio of 24.36 and a beta of 1.42.

SINA (NASDAQ:SINA) last posted its quarterly earnings data on Thursday, May 23rd. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.29. SINA had a return on equity of 3.47% and a net margin of 6.06%. The business had revenue of $475.10 million for the quarter, compared to analysts’ expectations of $477.57 million. During the same quarter last year, the firm earned $0.47 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts predict that SINA Corp will post 2.14 EPS for the current fiscal year.

A number of equities analysts have recently issued reports on the company. Benchmark cut their target price on SINA from $108.00 to $78.00 and set a “buy” rating for the company in a research note on Friday, May 24th. BidaskClub raised SINA from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Zacks Investment Research downgraded SINA from a “buy” rating to a “hold” rating in a research note on Thursday, February 21st. Deutsche Bank downgraded SINA from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, Bank of America lowered their price target on SINA from $120.00 to $108.00 and set a “buy” rating on the stock in a report on Monday, May 27th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $75.69.

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SINA Company Profile

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.

Further Reading: Certificate of Deposit (CD)

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Institutional Ownership by Quarter for SINA (NASDAQ:SINA)

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