Xact Kapitalforvaltning AB lowered its position in 58.com Inc (NYSE:WUBA) by 14.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,990 shares of the information services provider’s stock after selling 3,052 shares during the period. Xact Kapitalforvaltning AB’s holdings in 58.com were worth $975,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its position in 58.com by 433.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,194 shares of the information services provider’s stock worth $64,000 after purchasing an additional 970 shares during the period. American International Group Inc. bought a new stake in 58.com during the third quarter worth approximately $118,000. Quantbot Technologies LP bought a new stake in 58.com during the third quarter worth approximately $153,000. Redpoint Investment Management Pty Ltd bought a new stake in 58.com during the third quarter worth approximately $207,000. Finally, Fox Run Management L.L.C. bought a new stake in 58.com during the fourth quarter worth approximately $239,000. Hedge funds and other institutional investors own 60.04% of the company’s stock.
WUBA opened at $67.07 on Friday. 58.com Inc has a 1-year low of $50.30 and a 1-year high of $89.90. The company has a market capitalization of $9.83 billion, a PE ratio of 50.43, a price-to-earnings-growth ratio of 0.76 and a beta of 1.69.
58.com (NYSE:WUBA) last posted its quarterly earnings data on Wednesday, November 14th. The information services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.20. 58.com had a return on equity of 9.57% and a net margin of 16.13%. The company had revenue of $527.20 million during the quarter, compared to analysts’ expectations of $515.83 million. During the same period in the prior year, the business earned $0.49 earnings per share. 58.com’s revenue for the quarter was up 28.5% compared to the same quarter last year. On average, sell-side analysts anticipate that 58.com Inc will post 2.02 EPS for the current fiscal year.
WUBA has been the subject of a number of recent analyst reports. Benchmark decreased their target price on 58.com from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, November 16th. ValuEngine cut 58.com from a “buy” rating to a “hold” rating in a research report on Saturday, November 10th. Zacks Investment Research raised 58.com from a “sell” rating to a “hold” rating in a research report on Thursday, December 13th. Finally, Morgan Stanley cut 58.com to a “sell” rating and set a $40.00 price objective for the company. in a research report on Thursday, December 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. 58.com currently has an average rating of “Hold” and an average target price of $78.80.
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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