Stock Traders Buy High Volume of Put Options on Weibo (NASDAQ:WB)

Weibo Co. (NASDAQ:WB) saw some unusual options trading on Friday. Investors bought 4,501 put options on the company. This represents an increase of approximately 74% compared to the average daily volume of 2,581 put options.

Weibo Stock Up 0.6 %

Shares of NASDAQ:WB traded up $0.07 on Friday, hitting $10.49. 1,461,285 shares of the company traded hands, compared to its average volume of 1,794,503. Weibo has a 52 week low of $7.03 and a 52 week high of $12.40. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $10.16 and a 200-day simple moving average of $9.45. The company has a market cap of $2.54 billion, a PE ratio of 7.18 and a beta of 0.27.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WB shares. Benchmark restated a “hold” rating on shares of Weibo in a report on Wednesday, November 20th. StockNews.com upgraded Weibo from a “hold” rating to a “buy” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Weibo presently has an average rating of “Hold” and an average price target of $10.28.

Hedge Funds Weigh In On Weibo

Several institutional investors and hedge funds have recently modified their holdings of the stock. SIH Partners LLLP increased its holdings in shares of Weibo by 8.0% during the fourth quarter. SIH Partners LLLP now owns 20,200 shares of the information services provider’s stock valued at $193,000 after acquiring an additional 1,500 shares in the last quarter. Blue Trust Inc. boosted 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 valued at $27,000 after buying an additional 1,642 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Weibo by 17.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock valued at $134,000 after buying an additional 1,970 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Weibo by 9.2% during the fourth quarter. Franklin Resources Inc. now owns 29,986 shares of the information services provider’s stock valued at $286,000 after buying an additional 2,522 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Weibo by 26.5% during the fourth quarter. Ameriprise Financial Inc. now owns 15,780 shares of the information services provider’s stock valued at $151,000 after buying an additional 3,307 shares during the last quarter. 68.77% of the stock is currently owned by institutional investors.

About Weibo

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.