SINA Corp (SINA) Shares Sold by Raymond James & Associates

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Raymond James & Associates reduced its stake in SINA Corp (NASDAQ:SINA) by 60.1% in the second quarter, HoldingsChannel.com reports. The fund owned 3,422 shares of the technology company’s stock after selling 5,160 shares during the quarter. Raymond James & Associates’ holdings in SINA were worth $290,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SINA. BlackRock Inc. lifted its stake in shares of SINA by 27.4% in the 2nd quarter. BlackRock Inc. now owns 5,439,514 shares of the technology company’s stock worth $460,674,000 after acquiring an additional 1,169,725 shares during the period. Fosun International Ltd lifted its stake in SINA by 45.6% during the second quarter. Fosun International Ltd now owns 1,676,775 shares of the technology company’s stock valued at $142,006,000 after purchasing an additional 525,142 shares during the last quarter. Green Court Capital Management Ltd lifted its stake in SINA by 20.2% during the second quarter. Green Court Capital Management Ltd now owns 1,817,374 shares of the technology company’s stock valued at $153,913,000 after purchasing an additional 305,628 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in SINA by 189.1% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 186,355 shares of the technology company’s stock valued at $15,782,000 after purchasing an additional 121,900 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in SINA by 100.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 162,400 shares of the technology company’s stock valued at $13,754,000 after purchasing an additional 81,375 shares during the last quarter. 67.01% of the stock is owned by institutional investors.

SINA stock opened at $63.31 on Thursday. SINA Corp has a 52-week low of $56.67 and a 52-week high of $124.60. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.24. The company has a market cap of $4.39 billion, a PE ratio of 30.29 and a beta of 0.95.

SINA (NASDAQ:SINA) last released its quarterly earnings results on Wednesday, August 8th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.39. SINA had a net margin of 8.23% and a return on equity of 4.39%. The business had revenue of $537.36 million for the quarter, compared to analyst estimates of $538.10 million. During the same quarter in the previous year, the business earned $0.70 earnings per share. The firm’s revenue was up 49.7% compared to the same quarter last year. Equities research analysts anticipate that SINA Corp will post 2.26 EPS for the current fiscal year.

Several analysts recently commented on the stock. ValuEngine raised shares of SINA from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 27th. JPMorgan Chase & Co. assumed coverage on shares of SINA in a research note on Wednesday, August 29th. They set an “overweight” rating and a $150.00 target price for the company. Zacks Investment Research lowered shares of SINA from a “hold” rating to a “strong sell” rating in a research note on Friday, September 7th. BidaskClub raised shares of SINA from a “strong sell” rating to a “sell” rating in a research note on Friday, September 21st. Finally, Jefferies Financial Group reissued a “buy” rating and set a $144.00 target price on shares of SINA in a research note on Thursday, July 26th. Three analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $135.00.

About SINA

SINA Corporation, through its subsidiaries, operates as an online media company in the People's Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including multimedia news; business news coverage and personal finance columns; sporting events news; automobile-related news; entertainment news and events; technology updates; interactive video products, such as news, sports, and entertainment; and education, digital, fashion, luxury, health, collectibles, travel, and other interest-based channels.

Further Reading: Understanding Price to Earnings Ratio (PE)

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Institutional Ownership by Quarter for SINA (NASDAQ:SINA)

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