Latest Stocks: SINA Corp (SINA) Shares Up -0.9% Following Better-Than-Expected Earnings

Latest Stocks: SINA Corp (SINA) Shares Up -0.9% Following Better-Than-Expected Earnings

Shares of SINA Corp (NASDAQ:SINA) rose 0.9% on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $100.98 and last traded at $98.16, with a volume of 1,977,226 shares traded. The stock had previously closed at $99.04.

The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.78. SINA Corp had a return on equity of 5.05% and a net margin of 22.57%. The firm had revenue of $278.10 million for the quarter, compared to the consensus estimate of $267.14 million. During the same period in the prior year, the company posted ($0.04) earnings per share. The company’s quarterly revenue was up 40.0% on a year-over-year basis.

Several analysts recently issued reports on the company. Jefferies Group LLC reiterated a “buy” rating and set a $122.00 target price on shares of SINA Corp in a research report on Tuesday, May 30th. Stifel Nicolaus reiterated a “hold” rating and issued a $92.00 target price (up previously from $74.00) on shares of SINA Corp in a report on Wednesday, May 17th. Zacks Investment Research lowered SINA Corp from a “buy” rating to a “hold” rating in a research note on Thursday, March 16th. Benchmark Co. began coverage on SINA Corp in a research note on Tuesday, April 18th. They set a “buy” rating and a $110.00 price target for the company. Finally, T.H. Capital raised their price target on SINA Corp from $62.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, May 12th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $90.71. Large investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of SINA Corp by 1,354.9% in the first quarter. BlackRock Inc. now owns 2,502,738 shares of the technology company’s stock worth $180,498,000 after buying an additional 2,702,176 shares during the period. Platinum Investment Management Ltd. raised its stake in shares of SINA Corp by 27.8% in the first quarter. Platinum Investment Management Ltd. now owns 2,912,881 shares of the technology company’s stock worth $210,076,000 after buying an additional 632,879 shares during the period. State Street Corp raised its stake in shares of SINA Corp by 287.8% in the fourth quarter. State Street Corp now owns 801,649 shares of the technology company’s stock worth $48,734,000 after buying an additional 594,936 shares during the period. Hsbc Holdings PLC raised its stake in shares of SINA Corp by 39.3% in the third quarter. Hsbc Holdings PLC now owns 1,774,160 shares of the technology company’s stock worth $130,986,000 after buying an additional 500,400 shares during the period. Finally, Macquarie Group Ltd. raised its stake in shares of SINA Corp by 13.8% in the fourth quarter. Macquarie Group Ltd. now owns 3,997,332 shares of the technology company’s stock worth $242,980,000 after buying an additional 485,381 shares during the period. 61.40% of the stock is owned by institutional investors and hedge funds.

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