What Next for SINA Corp Stock After Today’s Bearish Options Activity?

 What Next for SINA Corp Stock After Today's Bearish Options Activity?

In today’s session SINA Corp (SINA) recorded an unusually high (445) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious SINA decrease. With 445 contracts traded and 4224 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: SINA161118P00070000 closed last at: $1.88 or 24.8% down. About 168,306 shares traded hands. SINA Corp (NASDAQ:SINA) has risen 45.48% since April 8, 2016 and is uptrending. It has outperformed by 39.83% 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 $13.49M for 90.25 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. $100 is the highest target while $39 is the lowest. The $61.20 average target is -10.77% below today’s ($68.59) stock price. Sina Corporation has been the topic of 11 analyst reports since August 19, 2015 according to StockzIntelligence Inc. Brean Capital maintained it with “Buy” rating and $55 target price in Thursday, November 19 report. The stock has “Neutral” rating given by Goldman Sachs on Monday, November 30. The company was upgraded on Friday, July 22 by Jefferies. On Wednesday, August 31 the stock rating was reinitiated by JP Morgan with “Overweight”. Brean Capital maintained it with “Buy” rating and $100 target price in Wednesday, September 14 report. Citigroup downgraded the stock to “Neutral” rating in Thursday, October 29 report. The rating was upgraded by TH Capital on Monday, August 17 to “Buy”. Citigroup initiated the shares of SINA in a report on Friday, August 5 with “Buy” rating.

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 Q2 2016. Its up 0.12, from 1.08 in 2016Q1. The ratio is positive, 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.
Financial Management Pro Incorporated, a Texas-based fund reported 157 shares. Caisse De Depot Et Placement Du Quebec has 70,000 shares for 0.01% of their US portfolio. The New Jersey-based Fincl Architects has invested 0.01% in SINA Corp (NASDAQ:SINA). Voloridge Invest Mgmt Limited Liability Company has 0.05% invested in the company for 34,295 shares. Driehaus Cap Ltd Com has 420,972 shares for 0.78% of their US portfolio. Invesco accumulated 184,243 shares or 0% of the stock. Solaris Asset Management Limited Liability accumulated 0.05% or 1,225 shares. Marshall Wace Llp holds 0.04% of its portfolio in SINA Corp (NASDAQ:SINA) for 99,798 shares. Glob X Mgmt Com Limited Liability Company holds 0.17% of its portfolio in SINA Corp (NASDAQ:SINA) for 64,996 shares. United Financial Advisers Lc holds 0.03% or 50,098 shares in its portfolio. Ladenburg Thalmann Fin Ser holds 0% or 260 shares in its portfolio. Value Prns Limited Adv has 0.47% invested in the company for 14,200 shares. Henderson Group Inc Public Ltd Liability Company has invested 0.11% of its portfolio in SINA Corp (NASDAQ:SINA). Parametric Portfolio Associates Lc holds 0.01% or 93,360 shares in its portfolio. Citigroup last reported 72,089 shares in the company.

Sina Corporation is an online media firm serving China and the global Chinese communities. The company has a market cap of $4.87 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 58.84 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 notable 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 with their article: “China Threatens Sina Corp. Over Insufficient Censorship” published on April 11, 2015, Profitconfidential.com published: “SINA Corp: This Is the No. 1 Internet Stock of 2017” on September 02, 2016. More interesting news about SINA Corp (NASDAQ:SINA) were released by: Fool.com and their article: “Why SINA Corporation Stock Soared Today” published on March 11, 2016 as well as Streetinsider.com‘s news article titled: “Sina Corp (SINA) Board Approves Weibo Share Distribution” with publication date: August 31, 2016.

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