SINA (NASDAQ:SINA) Lowered to “Sell” at BidaskClub

BidaskClub downgraded shares of SINA (NASDAQ:SINA) from a hold rating to a sell rating in a research note issued to investors on Wednesday, BidAskClub reports.

A number of other research firms have also issued reports on SINA. Goldman Sachs Group lowered SINA from a buy rating to a neutral rating and set a $41.00 price target on the stock. in a research report on Thursday, December 5th. ValuEngine raised SINA from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. SINA currently has a consensus rating of Hold and a consensus target price of $61.81.

SINA traded down $0.36 during mid-day trading on Wednesday, hitting $40.87. 680,058 shares of the stock were exchanged, compared to its average volume of 845,111. The firm’s fifty day moving average is $39.63 and its two-hundred day moving average is $39.73. SINA has a 1-year low of $31.03 and a 1-year high of $70.83. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 0.42. The company has a market cap of $2.87 billion, a PE ratio of 24.40 and a beta of 1.35.

SINA (NASDAQ:SINA) last posted its earnings results on Thursday, November 14th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.35. SINA had a return on equity of 3.08% and a net margin of 5.66%. The firm had revenue of $561.45 million for the quarter, compared to analyst estimates of $557.76 million. During the same quarter in the prior year, the company earned $0.93 EPS. SINA’s revenue was up .8% on a year-over-year basis. As a group, research analysts anticipate that SINA will post 1.73 earnings per share for the current year.

SINA announced that its board has initiated a share repurchase plan on Tuesday, December 31st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 15.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SINA. Charles Schwab Investment Management Inc. increased its holdings in shares of SINA by 2.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 76,912 shares of the technology company’s stock valued at $3,318,000 after acquiring an additional 1,980 shares during the last quarter. Northern Trust Corp increased its holdings in shares of SINA by 1.3% in the 2nd quarter. Northern Trust Corp now owns 366,970 shares of the technology company’s stock valued at $15,827,000 after acquiring an additional 4,801 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of SINA by 21.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 234,090 shares of the technology company’s stock valued at $10,096,000 after acquiring an additional 40,745 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of SINA by 118.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,228 shares of the technology company’s stock valued at $96,000 after acquiring an additional 1,207 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of SINA by 33.4% in the 2nd quarter. Asset Management One Co. Ltd. now owns 20,434 shares of the technology company’s stock valued at $882,000 after acquiring an additional 5,120 shares during the last quarter. Institutional investors and hedge funds own 59.87% of the company’s stock.

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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