ARGA Investment Management LP recently announced the acquisition of new stake in Weibo Corp ADR (NASDAQ:WB). The institutional investor has increased its shareholding in the Communication Services company by 5.07% to 5.96 million shares with purchase of 0.29 million shares. This fresh investment now brings its stake to 4.04% valued currently at $70.52 million. In addition, Hermes Investment Management Ltd. raised its holdings by 0.15 million to 5.11 million shares. And Krane Funds Advisors LLC has lifted its position by 14.38% or 0.4 million shares – to 3.19 million shares.
With over 4.86 million Weibo Corp ADR (WB) shares trading Tuesday and a closing price of $9.31 on the day, the dollar volume was approximately $45.22 million. The shares have shown a negative half year performance of -31.51% and its price on 12/05/23 lost nearly -3.22%. Currently, there are 145.37M common shares owned by the public and among those 145.37M shares have been available to trade.
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The top 3 mutual fund holders in Weibo Corp ADR are Hermes Invt. Funds – Asia, KraneShares CSI China Internet ET, and Government Pension Fund – Global. Hermes Invt. Funds – Asia owns 3.24 million shares of the company’s stock, all valued at over $38.33 million. The company bought an additional 0.18 million shares recently to bring their total holdings to about 2.20% of the shares outstanding. Government Pension Fund – Global bought 1.98 million shares to bring its total holdings to over 2.13 million shares at a value of $25.16 million. Government Pension Fund – Global now owns shares totaling to 1.44% of the shares outstanding.
Shares of Weibo Corp ADR (NASDAQ: WB) opened at $9.50, down -$0.12 from a prior closing price of $9.62. However, the script later moved the day high at 9.55, down -3.22%. The company’s stock has a 5-day price change of -20.36% and -29.89% over the past three months. WB shares are trading -48.20% year to date (YTD), with the 12-month market performance down to -39.69% lower. It has a 12-month low price of $9.59 and touched a high of $24.04 over the same period. WB has an average intraday trading volume of 1.16 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -19.21%, -21.92%, and -34.16% respectively.
Institutional ownership of Weibo Corp ADR (NASDAQ: WB) shares accounts for 49.55% of the company’s 145.37M shares outstanding. Mutual fund holders own 19.26%, while other institutional holders and individual stakeholders account for 29.77% and — respectively.
It has a market capitalization of $1.35B and a beta (3y monthly) value of 0.43. The stock’s trailing 12-month PE ratio is 5.52, while the earnings-per-share (ttm) stands at $1.69. The company has a PEG of 3.27 and a Quick Ratio of 2.38 with the debt-to-equity ratio at 0.76. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.00% over the week and 4.10% over the month.
Analysts forecast that Weibo Corp ADR (WB) will achieve an EPS of $0.5 for the current quarter, $0.47 for the next quarter and $2.21 for 2024. The lowest estimate earnings-per-share for the quarter is $0.46 while analysts give the company a high EPS estimate of $0.59. Comparatively, EPS for the current quarter was $0.75 a year ago. Earnings per share for the fiscal year are expected to decrease by -7.92%, and 5.95% over the next financial year. EPS should grow at an annualized rate of 1.69% over the next five years, compared to -25.64% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 27 brokerage firm advisors rate Weibo Corp ADR (WB) as a “Strong Buy” at a consensus score of 1.74. Specifically, 16 Wall Street analysts polled rate the stock as a buy, while 9 of the 27 advise that investors “hold,” and 0 rated it as a “Sell.”
