Handelsbanken Fonder AB increased its position in 58.com Inc (NYSE:WUBA) by 299.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,700 shares of the information services provider’s stock after acquiring an additional 110,000 shares during the period. Handelsbanken Fonder AB owned approximately 0.10% of 58.com worth $10,797,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. KEYWISE CAPITAL MANAGEMENT Ltd acquired a new stake in 58.com during the 3rd quarter valued at $567,000. Seven Eight Capital LP grew its holdings in 58.com by 274.1% during the 3rd quarter. Seven Eight Capital LP now owns 31,799 shares of the information services provider’s stock valued at $2,340,000 after buying an additional 23,300 shares during the last quarter. Aperio Group LLC grew its holdings in 58.com by 10.8% during the 3rd quarter. Aperio Group LLC now owns 86,628 shares of the information services provider’s stock valued at $6,376,000 after buying an additional 8,450 shares during the last quarter. Andra AP fonden grew its holdings in 58.com by 5.2% during the 3rd quarter. Andra AP fonden now owns 46,200 shares of the information services provider’s stock valued at $3,400,000 after buying an additional 2,300 shares during the last quarter. Finally, Malaga Cove Capital LLC grew its holdings in 58.com by 2.3% during the 3rd quarter. Malaga Cove Capital LLC now owns 47,719 shares of the information services provider’s stock valued at $3,499,000 after buying an additional 1,079 shares during the last quarter. Institutional investors and hedge funds own 59.62% of the company’s stock.
A number of equities research analysts have commented on WUBA shares. TheStreet upgraded 58.com from a “c” rating to a “b-” rating in a report on Friday, August 17th. CLSA reiterated a “buy” rating on shares of 58.com in a report on Thursday, September 20th. ValuEngine upgraded 58.com from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. Finally, Zacks Investment Research upgraded 58.com from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 31st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. 58.com currently has an average rating of “Buy” and an average price target of $89.67.
58.com (NYSE:WUBA) last issued its quarterly earnings results on Wednesday, August 15th. The information services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. 58.com had a return on equity of 8.07% and a net margin of 14.21%. The company had revenue of $518.47 million for the quarter, compared to analyst estimates of $485.03 million. During the same quarter in the prior year, the company posted $0.66 EPS. The business’s revenue for the quarter was up 35.4% compared to the same quarter last year. As a group, sell-side analysts expect that 58.com Inc will post 1.84 earnings per share for the current year.
58.com Inc operates online classifieds and listing platforms that enable local businesses and consumers to connect, share information, and conduct business in the People's Republic of China. It operates multi-content category online classified platforms primarily under the 58 and Ganji names; and Anjuke, an online real estate listing platform.
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