Ameriprise Financial Inc. Purchases New Position in Sina Corporation (SINA)

Ameriprise Financial Inc. purchased a new stake in Sina Corporation (NASDAQ:SINA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,387 shares of the technology company’s stock, valued at approximately $372,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Dorsey Wright & Associates lifted its stake in shares of Sina Corporation by 51.8% in the 2nd quarter. Dorsey Wright & Associates now owns 38,664 shares of the technology company’s stock valued at $1,471,000 after acquiring an additional 13,196 shares during the last quarter. TIAA CREF Investment Management LLC increased its holdings in Sina Corporation by 23.0% in the second quarter. TIAA CREF Investment Management LLC now owns 138,191 shares of the technology company’s stock valued at $11,742,000 after purchasing an additional 25,826 shares during the period. Teachers Advisors LLC increased its holdings in Sina Corporation by 476.0% in the second quarter. Teachers Advisors LLC now owns 147,871 shares of the technology company’s stock valued at $12,565,000 after purchasing an additional 122,200 shares during the period. Alliancebernstein L.P. acquired a new stake in Sina Corporation in the second quarter valued at $414,000. Finally, Aberdeen Asset Management PLC UK increased its holdings in Sina Corporation by 13.7% in the second quarter. Aberdeen Asset Management PLC UK now owns 49,683 shares of the technology company’s stock valued at $4,222,000 after purchasing an additional 6,000 shares during the period. Institutional investors own 68.47% of the company’s stock.

Shares of Sina Corporation (NASDAQ:SINA) opened at $106.50 on Wednesday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.04. Sina Corporation has a 1-year low of $60.46 and a 1-year high of $119.20. The firm has a market capitalization of $7,591.28, a PE ratio of 72.71 and a beta of 1.03.

Sina Corporation (NASDAQ:SINA) last issued its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.26. Sina Corporation had a return on equity of 3.36% and a net margin of 9.41%. The firm had revenue of $440.50 million during the quarter, compared to the consensus estimate of $404.71 million. During the same period last year, the business posted $0.56 EPS. The business’s revenue was up 60.2% compared to the same quarter last year. sell-side analysts predict that Sina Corporation will post 2.26 earnings per share for the current year.

A number of analysts recently weighed in on SINA shares. Benchmark Co. increased their price objective on Sina Corporation from $142.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Zacks Investment Research downgraded Sina Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, August 14th. Jefferies Group LLC restated a “buy” rating on shares of Sina Corporation in a report on Friday, August 11th. BidaskClub downgraded Sina Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Bank of America Corporation restated a “buy” rating and issued a $119.00 price objective (up from $112.00) on shares of Sina Corporation in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Sina Corporation presently has a consensus rating of “Buy” and a consensus target price of $109.96.

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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.

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

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