Harvest Fund Management Co. Ltd Cuts Stake in Weibo Co. (NASDAQ:WB)

Harvest Fund Management Co. Ltd lowered its position in shares of Weibo Co. (NASDAQ:WB) by 30.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 35,196 shares of the information services provider’s stock after selling 15,574 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Weibo were worth $336,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of WB. Citigroup Inc. increased its holdings in shares of Weibo by 347.3% in the 3rd quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock valued at $6,077,000 after purchasing an additional 468,072 shares in the last quarter. E Fund Management Co. Ltd. increased its holdings in shares of Weibo by 1,003.7% in the 4th quarter. E Fund Management Co. Ltd. now owns 458,206 shares of the information services provider’s stock valued at $4,376,000 after purchasing an additional 416,690 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Weibo in the 3rd quarter valued at about $3,696,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Weibo by 60.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 282,199 shares of the information services provider’s stock valued at $2,845,000 after purchasing an additional 105,780 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Weibo by 78.1% in the 3rd quarter. Geode Capital Management LLC now owns 223,447 shares of the information services provider’s stock valued at $2,252,000 after purchasing an additional 98,017 shares in the last quarter. Hedge funds and other institutional investors own 68.77% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Weibo from a “hold” rating to a “buy” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $10.03.

Weibo Stock Performance

NASDAQ:WB opened at $10.12 on Friday. Weibo Co. has a twelve month low of $7.03 and a twelve month high of $12.40. The company has a market capitalization of $2.46 billion, a P/E ratio of 6.93 and a beta of 0.27. The firm has a 50-day moving average price of $10.33 and a two-hundred day moving average price of $9.58. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.51.

Weibo Dividend Announcement

The company also recently declared an annual dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 9th will be paid a dividend of $0.82 per share. The ex-dividend date is Wednesday, April 9th. This represents a dividend yield of 7.77%. Weibo’s dividend payout ratio is currently 68.97%.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute 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.