Shares of SINA Corp (NASDAQ:SINA) traded up 5.6% during trading on Friday . The stock traded as high as $37.86 and last traded at $37.65, 1,565,793 shares were traded during trading. An increase of 86% from the average session volume of 840,401 shares. The stock had previously closed at $35.66.
Several analysts have recently commented on the stock. Benchmark reduced their price objective on shares of SINA from $108.00 to $78.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Jefferies Financial Group began coverage on SINA in a research note on Monday, August 5th. They set a “hold” rating on the stock. Goldman Sachs Group raised SINA from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $71.00 to $61.00 in a report on Friday, May 31st. BidaskClub lowered SINA from a “sell” rating to a “strong sell” rating in a report on Friday, May 17th. Finally, Zacks Investment Research lowered SINA from a “hold” rating to a “strong sell” rating in a report on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $75.69.
The business has a fifty day simple moving average of $39.76 and a two-hundred day simple moving average of $51.77. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.25. The company has a market cap of $2.62 billion, a P/E ratio of 22.15 and a beta of 1.37.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in SINA by 2.6% during the 1st quarter. BlackRock Inc. now owns 4,733,305 shares of the technology company’s stock valued at $280,402,000 after purchasing an additional 118,172 shares in the last quarter. Genesis Asset Managers LLP grew its stake in SINA by 181.5% during the 2nd quarter. Genesis Asset Managers LLP now owns 3,177,323 shares of the technology company’s stock valued at $137,038,000 after purchasing an additional 2,048,698 shares during the last quarter. Fosun International Ltd grew its stake in SINA by 1.9% during the 1st quarter. Fosun International Ltd now owns 1,967,578 shares of the technology company’s stock valued at $116,560,000 after purchasing an additional 35,802 shares during the last quarter. HBK Investments L P grew its stake in SINA by 60.5% during the 2nd quarter. HBK Investments L P now owns 1,451,465 shares of the technology company’s stock valued at $62,602,000 after purchasing an additional 547,320 shares during the last quarter. Finally, International Value Advisers LLC acquired a new position in shares of SINA in the 2nd quarter valued at about $48,078,000. Hedge funds and other institutional investors own 64.69% of the company’s stock.
SINA Company Profile (NASDAQ:SINA)
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.
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