SINA (NASDAQ:SINA) Upgraded to Sell at BidaskClub

BidaskClub upgraded shares of SINA (NASDAQ:SINA) from a strong sell rating to a sell rating in a research report report published on Tuesday morning, BidAskClub reports.

Other equities research analysts also recently issued research reports about the stock. Macquarie downgraded shares of SINA from an outperform rating to a neutral rating and set a $38.00 price objective for the company. in a research report on Friday, May 24th. Jefferies Financial Group started coverage on shares of SINA in a research report on Monday, August 5th. They set a hold rating for the company. Benchmark lowered 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. ValuEngine raised shares of SINA from a sell rating to a hold rating in a research report on Tuesday. Finally, Goldman Sachs Group raised shares of SINA from a neutral rating to a buy rating and lowered their price objective for the company from $71.00 to $61.00 in a research report on Friday, May 31st. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. SINA presently has a consensus rating of Hold and a consensus price target of $73.83.

SINA opened at $40.19 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.61 and a current ratio of 2.61. SINA has a 1-year low of $32.99 and a 1-year high of $72.94. The company has a 50-day moving average of $39.37 and a 200-day moving average of $51.20. The company has a market capitalization of $2.87 billion, a P/E ratio of 23.64 and a beta of 1.37.

SINA (NASDAQ:SINA) last announced its quarterly earnings data on Monday, August 19th. The technology company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.74. SINA had a net margin of 6.84% and a return on equity of 3.86%. The business had revenue of $533.00 million during the quarter, compared to the consensus estimate of $519.55 million. During the same quarter in the prior year, the firm earned $0.89 EPS. The company’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts expect that SINA will post 1.68 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake 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 during the period. Genesis Asset Managers LLP boosted 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 period. Fosun International Ltd boosted 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 period. HBK Investments L P boosted 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 period. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in SINA by 11.3% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,146,773 shares of the technology company’s stock valued at $49,460,000 after purchasing an additional 116,471 shares during the period. 65.02% of the stock is owned by hedge funds and other institutional investors.

About 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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Analyst Recommendations for SINA (NASDAQ:SINA)

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