Connor Clark & Lunn Investment Management Ltd. Increases Holdings in Weibo Co. (NASDAQ:WB)

Connor Clark & Lunn Investment Management Ltd. increased its stake in Weibo Co. (NASDAQ:WB) by 525.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,960 shares of the information services provider’s stock after purchasing an additional 69,699 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Weibo were worth $792,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. E Fund Management Co. Ltd. increased its stake in 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 worth $4,376,000 after acquiring an additional 416,690 shares during the last quarter. Raymond James Financial Inc. bought a new position in Weibo in the 4th quarter worth about $173,000. Aigen Investment Management LP bought a new position in Weibo in the 4th quarter worth about $167,000. QRG Capital Management Inc. bought a new position in Weibo in the 4th quarter worth about $169,000. Finally, Handelsbanken Fonder AB increased its stake in Weibo by 82.7% in the 4th quarter. Handelsbanken Fonder AB now owns 24,589 shares of the information services provider’s stock worth $235,000 after acquiring an additional 11,129 shares during the last quarter. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

Weibo Price Performance

WB opened at $10.12 on Friday. The stock has a 50-day moving average price of $10.33 and a 200-day moving average price of $9.58. Weibo Co. has a 12-month low of $7.03 and a 12-month high of $12.40. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $2.46 billion, a P/E ratio of 6.93 and a beta of 0.27.

Weibo Dividend Announcement

The company also recently disclosed 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 is Wednesday, April 9th. Weibo’s payout ratio is currently 68.97%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded 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 issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Weibo has an average rating of “Hold” and a consensus price target of $10.03.

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.