Is Buying SINA Corp Here a Winning Strategy? Option Traders Like The Stock

 Is Buying SINA Corp Here a Winning Strategy? Option Traders Like The Stock

In today’s session SINA Corp (SINA) registered an unusually high (1,037) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious SINA increase. With 1,037 contracts traded and 4264 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: SINA161021C00077500 closed last at: $3.55 or 66.7% up. About 613,398 shares traded hands. SINA Corp (NASDAQ:SINA) has risen 78.72% since March 3, 2016 and is uptrending. It has outperformed by 70.38% the S&P500.

Analysts await SINA Corp (NASDAQ:SINA) to report earnings on November, 16. They expect $0.19 earnings per share, up 26.67% or $0.04 from last year’s $0.15 per share. SINA’s profit will be $13.09 million for 99.29 P/E if the $0.19 EPS becomes a reality. After $0.06 actual earnings per share reported by SINA Corp for the previous quarter, Wall Street now forecasts 216.67% EPS growth.

SINA Corp (NASDAQ:SINA) Ratings Coverage

Out of 8 analysts covering Sina Corporation (NASDAQ:SINA), 6 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 75% are positive. Sina Corporation has been the topic of 11 analyst reports since August 19, 2015 according to StockzIntelligence Inc. JP Morgan reinitiated the shares of SINA in a report on Wednesday, August 31 with “Overweight” rating. The rating was upgraded by Jefferies to “Buy” on Friday, July 22. Citigroup initiated SINA Corp (NASDAQ:SINA) on Friday, August 5 with “Buy” rating. The rating was downgraded by Citigroup on Thursday, October 29 to “Neutral”. The rating was maintained by Brean Capital on Thursday, November 19 with “Buy”. The stock of SINA Corp (NASDAQ:SINA) earned “Neutral” rating by Goldman Sachs on Monday, November 30. The rating was upgraded by TH Capital on Monday, August 17 to “Buy”. The company was maintained on Wednesday, September 14 by Brean Capital.

According to Zacks Investment Research, “SINA Corporation is a leading online media company and value-added information service provider for China and for global Chinese communities. With a branded network of localized web sites targeting Greater China and overseas Chinese, SINA operates three major business lines including SINA.com, SINA Online and SINA.net, providing an array of services including online portals, premium email, wireless short messaging, virtual ISP, search, classified information, online games, e-commerce, e-learning and enterprise e-solutions.”

Insitutional Activity: The institutional sentiment increased to 1.2 in 2016 Q2. Its up 0.12, from 1.08 in 2016Q1. The ratio increased, as 15 funds sold all SINA Corp shares owned while 40 reduced positions. 34 funds bought stakes while 32 increased positions. They now own 35.07 million shares or 9.62% more from 31.99 million shares in 2016Q1.
Commonwealth Equity Inc has 8,994 shares for 0% of their US portfolio. Henderson Grp Inc Plc owns 244,560 shares or 0.11% of their US portfolio. The New Jersey-based Blackrock Mngmt Limited Liability Com has invested 0% in SINA Corp (NASDAQ:SINA). Millennium Mngmt Limited Liability holds 0.01% of its portfolio in SINA Corp (NASDAQ:SINA) for 81,008 shares. United Fincl Advisers Llc has 0.03% invested in the company for 50,098 shares. Bp Pcl has invested 0.12% of its portfolio in SINA Corp (NASDAQ:SINA). Ahl Prtnrs Limited Liability Partnership has invested 0.12% of its portfolio in SINA Corp (NASDAQ:SINA). Tb Alternative Assets last reported 4.4% of its portfolio in the stock. Tradewinds Capital Management Lc last reported 560 shares in the company. Natl Bank Of Montreal Can reported 611 shares or 0% of all its holdings. Barclays Public Limited Company accumulated 0% or 60,412 shares. Fosun has 12.66% invested in the company for 2.52M shares. Fmr Llc, a Massachusetts-based fund reported 151,698 shares. Canada Pension Plan Board last reported 77 shares in the company. The Illinois-based Guggenheim Capital Ltd Liability Corp has invested 0.01% in SINA Corp (NASDAQ:SINA).

Sina Corporation is an online media firm serving China and the global Chinese communities. The company has a market cap of $5.20 billion. The Company’s digital media network of SINA.com , SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances. It has a 64.74 P/E ratio. The Company’s divisions include Portal advertising, Weibo Corporation (Weibo) and Others.

SINA Company Profile

Sina Corporation, incorporated on July 9, 1997, is an online media firm serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances. The Company’s divisions include Portal advertising, Weibo Corporation (Weibo) and Others.

More recent SINA Corp (NASDAQ:SINA) news were published by: Fool.com which released: “Why SINA Corp. Stock Soared Today” on August 09, 2016. Also Wsj.com published the news titled: “China Threatens Sina Corp. Over Insufficient Censorship” on April 11, 2015. Profitconfidential.com‘s news article titled: “SINA Corp: This Is the No. 1 Internet Stock of 2017” with publication date: September 02, 2016 was also an interesting one.

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