SINA Target of Unusually Large Options Trading (SINA)

SINA Corp (NASDAQ:SINA) was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 3,453 put options on the stock. This represents an increase of approximately 1,717% compared to the average volume of 190 put options.

A number of institutional investors have recently added to or reduced their stakes in the stock. Genesis Asset Managers LLP bought a new position in SINA in the fourth quarter valued at approximately $188,299,000. Norges Bank bought a new stake in shares of SINA in the fourth quarter worth $40,222,000. Green Court Capital Management Ltd lifted its position in shares of SINA by 17.5% in the fourth quarter. Green Court Capital Management Ltd now owns 1,789,430 shares of the technology company’s stock worth $95,985,000 after purchasing an additional 266,059 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of SINA by 5.5% in the third quarter. Macquarie Group Ltd. now owns 3,493,769 shares of the technology company’s stock worth $242,747,000 after purchasing an additional 183,000 shares in the last quarter. Finally, Krane Funds Advisors LLC increased its holdings in SINA by 23.5% during the third quarter. Krane Funds Advisors LLC now owns 820,993 shares of the technology company’s stock worth $57,043,000 after buying an additional 156,056 shares during the last quarter. 62.88% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have weighed in on SINA shares. Benchmark upped their price objective on shares of SINA from $96.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. BidaskClub raised shares of SINA from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Deutsche Bank downgraded shares of SINA from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Zacks Investment Research downgraded shares of SINA from a “buy” rating to a “hold” rating in a report on Thursday, February 21st. Finally, Credit Suisse Group started coverage on shares of SINA in a report on Monday, February 4th. They issued a “neutral” rating and a $58.50 price target for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $94.50.

SINA traded down $0.59 during midday trading on Thursday, hitting $57.00. The company had a trading volume of 1,203,143 shares, compared to its average volume of 786,142. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $4.07 billion, a PE ratio of 33.53 and a beta of 1.08. SINA has a twelve month low of $51.76 and a twelve month high of $96.71.

SINA (NASDAQ:SINA) last posted its quarterly earnings data on Tuesday, March 5th. The technology company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.48). SINA had a net margin of 5.96% and a return on equity of 3.39%. The company had revenue of $573.01 million during the quarter, compared to analyst estimates of $575.29 million. During the same quarter in the previous year, the business posted $0.79 EPS. The company’s revenue was up 13.8% compared to the same quarter last year. On average, research analysts predict that SINA will post 3.23 EPS for the current year.

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SINA Company Profile

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.

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