Today The Whitebox Advisors LLC Buys New Position in Sina Corporation (SINA)

Today The Whitebox Advisors LLC Buys New Position in Sina Corporation (SINA)

Whitebox Advisors LLC bought a new stake in Sina Corporation (NASDAQ:SINA) during the third quarter, Holdings Channel reports. The institutional investor bought 129,000 shares of the company’s stock, valued at approximately $9,524,000.

A number of other large investors also recently added to or reduced their stakes in SINA. BNP Paribas Arbitrage SA increased its position in shares of Sina Corporation by 2,840.0% in the third quarter. BNP Paribas Arbitrage SA now owns 2,499 shares of the company’s stock worth $185,000 after buying an additional 2,414 shares during the last quarter. Eqis Capital Management Inc. acquired a new position in shares of Sina Corporation during the third quarter worth about $229,000. Comerica Bank acquired a new position in shares of Sina Corporation during the second quarter worth about $250,000. ClariVest Asset Management LLC acquired a new position in shares of Sina Corporation during the second quarter worth about $197,000. Finally, Pacad Investment Ltd. acquired a new position in shares of Sina Corporation during the second quarter worth about $228,000. 60.96% of the stock is currently owned by institutional investors and hedge funds.

Shares of Sina Corporation (NASDAQ:SINA) traded up 0.68% during mid-day trading on Wednesday, reaching $70.81. The company’s stock had a trading volume of 38,798 shares. The firm’s 50-day moving average price is $66.64 and its 200 day moving average price is $69.35. The firm has a market cap of $4.99 billion, a P/E ratio of 23.39 and a beta of 1.33. Sina Corporation has a 12-month low of $39.58 and a 12-month high of $85.24.

Sina Corporation (NASDAQ:SINA) last announced its quarterly earnings results on Monday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.21. Sina Corporation had a return on equity of 5.05% and a net margin of 22.57%. The business had revenue of $272.30 million for the quarter, compared to the consensus estimate of $265.30 million. During the same period last year, the business posted $0.39 EPS. The business’s revenue was up 21.5% compared to the same quarter last year. On average, analysts expect that Sina Corporation will post $1.33 EPS for the current year.

A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded Sina Corporation from a “strong-buy” rating to a “hold” rating in a report on Monday, November 28th. Jefferies Group LLC set a $95.00 target price on Sina Corporation and gave the company a “buy” rating in a report on Thursday, November 24th. CLSA started coverage on Sina Corporation in a report on Monday, December 12th. They issued an “outperform” rating and a $85.00 target price on the stock. Finally, Brean Capital reissued a “buy” rating on shares of Sina Corporation in a report on Tuesday, December 13th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $74.78.

Sina Corporation Company Profile

Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.

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