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

Harvest Fund Management Co. Ltd reduced its holdings in shares of Weibo Co. (NASDAQ:WB) by 30.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Two Sigma Advisers LP increased its stake in Weibo by 1.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,153,088 shares of the information services provider’s stock worth $11,623,000 after buying an additional 19,200 shares during the period. State Street Corp increased its stake in Weibo by 0.7% during the 3rd quarter. State Street Corp now owns 931,749 shares of the information services provider’s stock worth $9,392,000 after buying an additional 6,369 shares during the period. Citigroup Inc. increased its stake in Weibo by 347.3% during the 3rd quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock worth $6,077,000 after buying an additional 468,072 shares during the period. Polunin Capital Partners Ltd increased its position in shares of Weibo by 14.6% in the 4th quarter. Polunin Capital Partners Ltd now owns 575,750 shares of the information services provider’s stock valued at $5,600,000 after purchasing an additional 73,412 shares during the last quarter. Finally, E Fund Management Co. Ltd. increased its position 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 during the last quarter. 68.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Weibo Trading Down 0.5 %

Shares of Weibo stock opened at $10.12 on Friday. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 6.93 and a beta of 0.27. The company has a fifty day simple moving average of $10.33 and a 200-day simple moving average 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 Co. has a 12-month low of $7.03 and a 12-month high of $12.40.

Weibo Announces Dividend

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

Weibo 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.