SINA Corp (NASDAQ:SINA) saw a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 1,722,900 shares, a decline of 6.6% from the June 30th total of 1,844,000 shares. Based on an average daily volume of 901,200 shares, the short-interest ratio is presently 1.9 days. Currently, 2.8% of the company’s stock are sold short.
Several research firms have issued reports on SINA. Jefferies Financial Group began coverage on SINA in a research note on Monday, August 5th. They issued a “hold” rating on the stock. Macquarie lowered SINA from an “outperform” rating to a “neutral” rating and set a $38.00 target price on the stock. in a research note on Friday, May 24th. Goldman Sachs Group upgraded SINA from a “neutral” rating to a “buy” rating and cut their target price for the company from $71.00 to $61.00 in a research note on Friday, May 31st. Zacks Investment Research lowered SINA from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 23rd. Finally, Bank of America cut their target price on SINA from $120.00 to $108.00 and set a “buy” rating on the stock in a research note on Monday, May 27th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $75.69.
Several hedge funds have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its stake in shares of SINA by 4.3% during the first quarter. Nomura Asset Management Co. Ltd. now owns 4,570 shares of the technology company’s stock worth $271,000 after acquiring an additional 190 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of SINA by 66.8% during the first quarter. Lindbrook Capital LLC now owns 482 shares of the technology company’s stock worth $28,000 after acquiring an additional 193 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of SINA by 0.7% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,000 shares of the technology company’s stock worth $1,777,000 after acquiring an additional 200 shares during the last quarter. Boston Partners grew its stake in shares of SINA by 1.3% during the first quarter. Boston Partners now owns 18,614 shares of the technology company’s stock worth $1,103,000 after acquiring an additional 241 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of SINA by 4.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 5,734 shares of the technology company’s stock worth $1,726,000 after acquiring an additional 263 shares during the last quarter. Institutional investors and hedge funds own 64.69% of the company’s stock.
SINA (NASDAQ:SINA) last issued its quarterly earnings results on Thursday, May 23rd. The technology company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.29. SINA had a return on equity of 3.47% and a net margin of 6.06%. The business had revenue of $475.10 million for the quarter, compared to analyst estimates of $477.57 million. During the same quarter in the previous year, the firm earned $0.47 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect that SINA will post 1.95 EPS for the current year.
SINA Company Profile
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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