Weibo Corporation (NASDAQ:WB – Get Free Report) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.99 and traded as low as $8.32. Weibo shares last traded at $8.35, with a volume of 423,439 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings downgraded shares of Weibo from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, April 27th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.00.
View Our Latest Research Report on WB
Weibo Stock Performance
Weibo (NASDAQ:WB – Get Free Report) last announced its quarterly earnings results on Thursday, March 19th. The information services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.07). Weibo had a net margin of 25.55% and a return on equity of 10.63%. The company had revenue of $473.26 million for the quarter, compared to the consensus estimate of $444.28 million. During the same quarter in the prior year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Equities analysts expect that Weibo Corporation will post 1.45 earnings per share for the current year.
Weibo Cuts Dividend
The business also recently declared an annual dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, April 17th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, April 17th. This represents a dividend yield of 690.0%. Weibo’s dividend payout ratio is currently 34.71%.
Institutional Investors Weigh In On Weibo
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Krane Funds Advisors LLC increased its position in shares of Weibo by 25.0% during the third quarter. Krane Funds Advisors LLC now owns 4,676,063 shares of the information services provider’s stock valued at $57,983,000 after buying an additional 934,898 shares during the period. Causeway Capital Management LLC increased its position in shares of Weibo by 11.7% during the third quarter. Causeway Capital Management LLC now owns 2,952,249 shares of the information services provider’s stock valued at $36,608,000 after buying an additional 308,531 shares during the period. FIL Ltd bought a new stake in shares of Weibo during the fourth quarter valued at about $16,693,000. UBS Group AG increased its position in shares of Weibo by 15.9% during the fourth quarter. UBS Group AG now owns 1,596,371 shares of the information services provider’s stock valued at $16,315,000 after buying an additional 218,666 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Weibo by 26.0% during the third quarter. Wellington Management Group LLP now owns 1,155,576 shares of the information services provider’s stock valued at $14,329,000 after buying an additional 238,120 shares during the period. 68.77% of the stock is currently owned by institutional investors.
Weibo Company Profile
Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.
Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.
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