Weibo (NASDAQ:WB) Reaches New 12-Month Low – Here’s What Happened

Weibo Corporation (NASDAQ:WBGet Free Report) reached a new 52-week low during trading on Thursday . The company traded as low as $7.52 and last traded at $7.5750, with a volume of 483811 shares traded. The stock had previously closed at $7.66.

Analyst Ratings Changes

A number of research firms recently commented on WB. Weiss Ratings lowered Weibo from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, April 27th. Zacks Research downgraded Weibo from a “hold” rating to a “strong sell” rating in a report on Tuesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $9.80 price objective on shares of Weibo in a report on Thursday, May 28th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.90.

Get Our Latest Analysis on Weibo

Weibo Stock Performance

The firm has a fifty day simple moving average of $8.38 and a 200-day simple moving average of $9.48. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.48. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 5.26, a P/E/G ratio of 4.60 and a beta of 0.20.

Weibo (NASDAQ:WBGet Free Report) last posted its quarterly earnings data on Thursday, May 28th. The information services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The firm had revenue of $421.33 million for the quarter, compared to analyst estimates of $416.76 million. Weibo had a return on equity of 9.90% and a net margin of 21.15%.The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 EPS. Analysts forecast that Weibo Corporation will post 1.26 EPS for the current fiscal year.

Weibo Cuts Dividend

The business also recently declared an annual dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, April 17th were paid a $0.61 dividend. The ex-dividend date of this dividend was Friday, April 17th. This represents a dividend yield of 690.0%. Weibo’s dividend payout ratio is 41.26%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Krane Funds Advisors LLC lifted its stake in shares of Weibo by 25.0% in the 3rd quarter. Krane Funds Advisors LLC now owns 4,676,063 shares of the information services provider’s stock valued at $57,983,000 after purchasing an additional 934,898 shares during the period. Causeway Capital Management LLC raised its stake in Weibo by 11.7% during the 3rd quarter. Causeway Capital Management LLC now owns 2,952,249 shares of the information services provider’s stock worth $36,608,000 after buying an additional 308,531 shares during the period. Saba Capital Management L.P. lifted its holdings in Weibo by 21.0% during the first quarter. Saba Capital Management L.P. now owns 2,437,357 shares of the information services provider’s stock worth $21,327,000 after acquiring an additional 422,294 shares in the last quarter. FIL Ltd acquired a new position in Weibo in the fourth quarter valued at about $16,693,000. Finally, UBS Group AG grew its stake in Weibo by 15.9% in 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 acquiring an additional 218,666 shares during the period. Institutional investors and hedge funds own 68.77% of the company’s stock.

About Weibo

(Get Free Report)

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.

See Also

Receive News & Ratings for Weibo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weibo and related companies with MarketBeat.com's FREE daily email newsletter.