Is SINA Corp (SINA) A Good Stock To Buy?

As one would reasonably expect, key hedge funds have been driving this bullishness. John Burbank’s Passport Capital initiated the most outsized position in SINA Corp (NASDAQ:SINA). Passport Capital had $83.4 million invested in the company at the end of the quarter. Jim Simons’ Renaissance Technologies also made a $23.7 million investment in the stock during the quarter. The following funds were also among the new SINA investors: Louis Bacon’s Moore Global Investments, Andy Redleaf’s Whitebox Advisors, and John Burbank’s Passport Capital.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as SINA Corp (NASDAQ:SINA) but similarly valued. We will take a look at Medical Properties Trust, Inc. (NYSE:MPW), Tribune Media Co (NYSE:TRCO), Euronet Worldwide, Inc. (NASDAQ:EEFT), and LATAM Airlines Group SA (ADR) (NYSE:LFL). This group of stocks’ market values resemble SINA’s market value.

As you can see these stocks had an average of 20 investors with bullish positions and the average amount invested in these stocks was $436 million. That figure was $797 million in SINA’s case. Tribune Media Co (NYSE:TRCO) is the most popular stock in this table with 25 funds holding shares. On the other hand LATAM Airlines Group SA (ADR) (NYSE:LFL) is the least popular one with only eight bullish hedge fund positions. Compared to these stocks SINA Corp (NASDAQ:SINA) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.