Weibo Co. (NASDAQ:WB - Get Free Report) announced a -- dividend on Thursday, March 14th, Wall Street Journal reports. Investors of record on Friday, April 12th will be paid a dividend of 0.80 per share by the information services provider on Monday, May 13th. The ex-dividend date is Thursday, April 11th.
Weibo Stock Performance
Weibo stock traded down $0.48 during mid-day trading on Monday, reaching $9.43. 2,281,853 shares of the company's stock were exchanged, compared to its average volume of 2,234,771. The business's fifty day simple moving average is $8.94 and its 200 day simple moving average is $10.62. The firm has a market capitalization of $2.21 billion, a PE ratio of 6.64, a P/E/G ratio of 1.43 and a beta of 0.43. Weibo has a one year low of $7.84 and a one year high of $21.58. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.51.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. StockNews.com lowered Weibo from a "buy" rating to a "hold" rating in a research note on Friday, January 19th. HSBC lowered their target price on Weibo from $13.60 to $9.80 and set a "hold" rating on the stock in a research note on Friday. Finally, Bank of America cut Weibo from a "buy" rating to an "underperform" rating and reduced their price target for the company from $19.50 to $10.00 in a research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $13.33.
Check Out Our Latest Research Report on Weibo
Hedge Funds Weigh In On Weibo
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WB. Wetherby Asset Management Inc. bought a new stake in Weibo during the first quarter worth about $227,000. Tower Research Capital LLC TRC lifted its stake in shares of Weibo by 95.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 15,691 shares of the information services provider's stock valued at $206,000 after acquiring an additional 7,652 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Weibo by 6.5% in the 2nd quarter. Franklin Resources Inc. now owns 13,923 shares of the information services provider's stock valued at $183,000 after acquiring an additional 844 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Weibo in the 4th quarter valued at about $177,000. Finally, Bridgefront Capital LLC bought a new stake in shares of Weibo in the 2nd quarter valued at about $172,000. 29.81% of the stock is currently owned by hedge funds and other institutional investors.
About Weibo
(Get Free Report)
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover content in the People's Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.
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