Long Corridor Asset Management Ltd Sells 606,349 Shares of Weibo Co. (NASDAQ:WB)

Long Corridor Asset Management Ltd cut its holdings in Weibo Co. (NASDAQ:WB) by 65.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 318,555 shares of the information services provider’s stock after selling 606,349 shares during the quarter. Weibo comprises approximately 2.3% of Long Corridor Asset Management Ltd’s portfolio, making the stock its 14th largest holding. Long Corridor Asset Management Ltd’s holdings in Weibo were worth $3,042,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WB. Blue Trust Inc. raised its position in shares of Weibo by 155.2% during the fourth quarter. Blue Trust Inc. now owns 2,700 shares of the information services provider’s stock worth $27,000 after acquiring an additional 1,642 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Weibo by 17.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock worth $134,000 after purchasing an additional 1,970 shares during the last quarter. Franklin Resources Inc. raised its holdings in Weibo by 16.5% during the 3rd quarter. Franklin Resources Inc. now owns 27,464 shares of the information services provider’s stock worth $266,000 after purchasing an additional 3,884 shares during the last quarter. State Street Corp lifted its position in Weibo by 0.7% during the 3rd quarter. State Street Corp now owns 931,749 shares of the information services provider’s stock valued at $9,392,000 after purchasing an additional 6,369 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Weibo in the 4th quarter valued at about $70,000. Institutional investors and hedge funds own 68.77% of the company’s stock.

Weibo Price Performance

Weibo stock opened at $10.19 on Tuesday. The firm has a market capitalization of $2.47 billion, a P/E ratio of 6.98 and a beta of 0.27. The business has a 50-day moving average of $10.35 and a 200-day moving average of $9.63. 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 1 year low of $7.03 and a 1 year high of $12.40.

Weibo Dividend Announcement

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

Analyst Ratings Changes

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

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.