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

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

In today’s session SINA Corp (SINA) registered an unusually high (349) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious SINA increase. With 349 contracts traded and 2794 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: SINA161216C00070000 closed last at: $2.44 or 18.7% down. About 885,463 shares traded hands. SINA Corp (NASDAQ:SINA) has risen 44.80% since April 21, 2016 and is uptrending. It has outperformed by 39.47% the S&P500.

Analysts await SINA Corp (NASDAQ:SINA) to report earnings on March, 1. They expect $0.37 earnings per share, up 76.19% or $0.16 from last year’s $0.21 per share. SINA’s profit will be $28.84 million for 51.32 P/E if the $0.37 EPS becomes a reality. After $1.90 actual earnings per share reported by SINA Corp for the previous quarter, Wall Street now forecasts -80.53% negative 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 -19.42% below today’s ($75.95) stock price. Sina Corporation has been the topic of 11 analyst reports since August 19, 2015 according to StockzIntelligence Inc. As per Friday, July 22, the company rating was upgraded by Jefferies. JP Morgan reinitiated SINA Corp (NASDAQ:SINA) on Wednesday, August 31 with “Overweight” rating. Brean Capital maintained SINA Corp (NASDAQ:SINA) rating on Thursday, November 19. Brean Capital has “Buy” rating and $55 price target. The firm has “Buy” rating given on Wednesday, September 14 by Brean Capital. On Thursday, October 29 the stock rating was downgraded by Citigroup to “Neutral”. The rating was initiated by Citigroup with “Buy” on Friday, August 5. The firm has “Neutral” rating by Goldman Sachs given on Monday, November 30. The rating was upgraded by TH Capital to “Buy” on Monday, August 17.

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 1.63 in 2016 Q2. Its up 0.43, from 1.2 in 2016Q1. The ratio improved, 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.
Eton Park Cap L P has invested 0.46% of its portfolio in SINA Corp (NASDAQ:SINA). Millennium Mngmt Ltd Liability Co last reported 0.01% of its portfolio in the stock. Trexquant Inv Limited Partnership, a Connecticut-based fund reported 12,200 shares. Hillhouse Cap Management accumulated 1.86% or 1.42M shares. Ww Asset Inc owns 4,306 shares or 0.01% of their US portfolio. Moreover, Parametric Portfolio Limited Liability Company has 0.01% invested in SINA Corp (NASDAQ:SINA) for 93,360 shares. Lenox Wealth Management has invested 0% of its portfolio in SINA Corp (NASDAQ:SINA). The Hong Kong-based Fosun Ltd has invested 12.66% in SINA Corp (NASDAQ:SINA). Architects holds 600 shares or 0.01% of its portfolio. Us Bancshares De, a Minnesota-based fund reported 133 shares. Moreover, Schroder Inv Mgmt Group has 0.42% invested in SINA Corp (NASDAQ:SINA) for 4.01M shares. Panagora Asset holds 403 shares or 0% of its portfolio. Voloridge Investment Mgmt Limited Liability Corp holds 34,295 shares or 0.05% of its portfolio. Moreover, Cubist Systematic Strategies Ltd Co has 0.06% invested in SINA Corp (NASDAQ:SINA) for 20,316 shares. Moreover, Quantbot Tech Ltd Partnership has 0% invested in SINA Corp (NASDAQ:SINA) for 260 shares.

Sina Corporation is an online media firm serving China and the global Chinese communities. The company has a market cap of $5.92 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 65.16 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 Popped Tuesday” on November 22, 2016, also Schaeffersresearch.com with their article: “Analyst Update: Activision Blizzard, Inc., NVIDIA Corporation, and SINA Corp” published on November 22, 2016, Fool.com published: “Why SINA Corp. Stock Soared Today” on August 09, 2016. More interesting news about SINA Corp (NASDAQ:SINA) were released by: Reuters.com and their article: “BRIEF-SINA Corp reports Q3 earnings per share $1.90” published on November 21, 2016 as well as Profitconfidential.com‘s news article titled: “SINA Corp: This Is the No. 1 Internet Stock of 2017” with publication date: September 02, 2016.

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