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Social Media Stocks Hedge Funds Like


– Number of Hedge Fund Shareholders (as of June 30): 21

– Total Value of Hedge Funds’ Holdings (as of June 30): $525.42 Million

SINA Corp (NASDAQ:SINA) also received some love from the segment of the hedge fund industry tracked by Insider Monkey during the April-to-June quarter, with the number of bullish smart money investors on the company increasing to 21 from 15 quarter-on-quarter. At the same time, the aggregate value of those investors’ stakes in SINA rose by 79% quarter-over-quarter to $525.42 million, partially driven by a 9% gain in the value of SINA shares. The 21 hedge fund shareholders accumulated nearly 15% of the company’s total number of outstanding shares. At the end of August, Chinese online media company SINA announced plans to distribute part of its stake in Weibo Corp (ADR) (NASDAQ:WB), the Chinese social media operator that is currently trading near record highs, to shareholders. SINA will distribute one Weibo Class A ordinary share for each ten SINA ordinary shares. After the distribution of the Weibo shares, SINA’s equity stake in Weibo will decline to 51% from 54%. SINA has seen its market value skyrocket by 65% since the beginning of 2016, helped by strong performance delivered by microblog portal Weibo. Kerr Neilson’s Platinum Asset Management was the owner of 5.21 million shares of SINA Corp (NASDAQ:SINA) at the end of the second quarter.

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#3. Twitter Inc. (NYSE:TWTR)

– Number of Hedge Fund Shareholders (as of June 30): 30

– Total Value of Hedge Funds’ Holdings (as of June 30): $354.92 Million

The number of hedge funds from our system with equity stakes in Twitter Inc. (NYSE:TWTR) increased to 30 from 27 during the three months that ended June 30. Nevertheless, the aggregate value of those stakes fell by nearly 14% quarter-over-quarter to $354.92 million despite a 2% gain in the value of Twitter’s stock. Hence, some hedge fund shareholders of Twitter drastically trimmed their exposure to the microblogging platform company during the June quarter. It is fairly safe to say that Twitter’s stock performance has been tightly tied to takeover rumors lately. The company’s recent stock performance seems to reflect rumors, reports or hopes that Twitter could become the target of activist investors or become a takeover target. However, some analysts believe that the possibility of an immediate change in the company’s direction is not extremely high over the next year or so. Twitter shares are 15% in the red thus far in 2016. Jim Simons’ Renaissance Technologies LLC had 3.16 million shares of Twitter Inc. (NYSE:TWTR) among its holdings at the end of June.

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