SINA (NASDAQ:SINA) Trading 5.6% Higher

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.

SINA (NASDAQ:SINA) last released its earnings results 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. The firm had revenue of $475.10 million during the quarter, compared to analysts’ expectations of $477.57 million. SINA had a return on equity of 3.47% and a net margin of 6.06%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.47 earnings per share. On average, equities analysts predict that SINA Corp will post 1.95 EPS for the current fiscal year.

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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