SINA Corp (NASDAQ:SINA) has been assigned an average recommendation of “Hold” from the eleven ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $64.80.
A number of equities analysts have recently weighed in on SINA shares. Goldman Sachs Group cut SINA from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a report on Thursday, December 5th. BidaskClub cut SINA from a “hold” rating to a “sell” rating in a report on Wednesday, January 22nd.
Shares of NASDAQ SINA traded down $0.49 during trading on Friday, reaching $38.89. The company had a trading volume of 550,750 shares, compared to its average volume of 674,544. SINA has a twelve month low of $31.03 and a twelve month high of $70.83. The stock has a market capitalization of $2.78 billion, a PE ratio of 23.01 and a beta of 1.36. The stock has a 50-day moving average price of $40.87 and a two-hundred day moving average price of $39.57. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 0.42.
SINA announced that its Board of Directors has approved a share buyback plan on Tuesday, December 31st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to buy up to 15.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Several large investors have recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ grew its position in shares of SINA by 19.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 2,893 shares of the technology company’s stock valued at $116,000 after purchasing an additional 474 shares during the period. Panagora Asset Management Inc. grew its position in shares of SINA by 5.0% in the fourth quarter. Panagora Asset Management Inc. now owns 11,912 shares of the technology company’s stock valued at $476,000 after purchasing an additional 570 shares during the period. CWM LLC grew its position in shares of SINA by 374.6% in the fourth quarter. CWM LLC now owns 878 shares of the technology company’s stock valued at $35,000 after purchasing an additional 693 shares during the period. Boston Partners grew its position in shares of SINA by 3.2% in the third quarter. Boston Partners now owns 22,498 shares of the technology company’s stock valued at $882,000 after purchasing an additional 704 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of SINA by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 76,035 shares of the technology company’s stock valued at $3,037,000 after purchasing an additional 758 shares during the period. 59.65% of the stock is owned by institutional investors and hedge funds.
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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