Parametric Portfolio Associates LLC raised its position in shares of 58.com Inc. (NYSE:WUBA) by 19.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,304 shares of the information services provider’s stock after buying an additional 8,585 shares during the period. Parametric Portfolio Associates LLC’s holdings in 58.com were worth $1,851,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Profund Advisors LLC purchased a new position in 58.com during the first quarter worth $214,000. World Asset Management Inc bought a new stake in 58.com during the first quarter worth approximately $255,000. Comerica Bank bought a new stake in 58.com during the first quarter worth approximately $263,000. Russell Investments Group Ltd. bought a new stake in 58.com during the fourth quarter worth approximately $320,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in 58.com during the first quarter worth approximately $415,000. Institutional investors own 66.43% of the company’s stock.
Shares of 58.com Inc. (WUBA) traded up 0.90% during midday trading on Tuesday, reaching $51.42. 928,481 shares of the company traded hands. The company’s 50 day moving average is $46.40 and its 200-day moving average is $39.43. 58.com Inc. has a 12 month low of $27.58 and a 12 month high of $55.28. The stock’s market capitalization is $7.47 billion.
58.com (NYSE:WUBA) last released its quarterly earnings data on Thursday, May 25th. The information services provider reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.27. 58.com had a negative return on equity of 1.57% and a negative net margin of 3.18%. The firm had revenue of $288.19 million for the quarter. Equities research analysts forecast that 58.com Inc. will post $0.85 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on WUBA shares. BidaskClub lowered shares of 58.com from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. TH Capital started coverage on shares of 58.com in a research report on Wednesday, May 10th. They set a “buy” rating and a $48.00 price target on the stock. Morgan Stanley restated an “equal weight” rating and set a $42.00 price target on shares of 58.com in a research report on Sunday, May 28th. CLSA upgraded shares of 58.com from an “underperform” rating to an “outperform” rating and boosted their price target for the stock from $39.00 to $50.00 in a research report on Thursday, May 25th. Finally, Bank of America Corporation boosted their target price on shares of 58.com from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, May 30th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. 58.com has an average rating of “Hold” and an average price target of $44.30.
58.com Company Profile
58.com Inc is a holding company. The Company’s business consists of its online classifieds and listing platforms. Its online classifieds and listings platforms enable local merchants and consumers to connect, share information and conduct business in China. These platforms include 58, Ganji and Anjuke.
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