O Shares Investment Advisers LLC cut its position in shares of 58.com Inc (NYSE:WUBA) by 27.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,938 shares of the information services provider’s stock after selling 1,877 shares during the period. O Shares Investment Advisers LLC’s holdings in 58.com were worth $324,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in WUBA. Quadrant Capital Group LLC raised its position in 58.com by 61.1% during the first quarter. Quadrant Capital Group LLC now owns 1,923 shares of the information services provider’s stock worth $124,000 after acquiring an additional 729 shares during the period. Stone Ridge Asset Management LLC acquired a new position in 58.com during the fourth quarter worth $210,000. Pictet & Cie Europe SA acquired a new position in 58.com during the first quarter worth $263,000. Parametrica Management Ltd acquired a new position in 58.com during the fourth quarter worth $288,000. Finally, Commerzbank Aktiengesellschaft FI raised its position in 58.com by 56.1% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,146 shares of the information services provider’s stock worth $333,000 after acquiring an additional 2,209 shares during the period. 59.90% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of 58.com from a “hold” rating to a “strong-buy” rating and set a $68.00 price objective for the company in a research report on Saturday, June 1st. Deutsche Bank assumed coverage on shares of 58.com in a research report on Wednesday, March 27th. They set a “hold” rating for the company. Macquarie cut shares of 58.com from an “outperform” rating to a “neutral” rating in a research report on Friday, March 1st. Benchmark restated a “buy” rating and set a $83.00 price objective (down from $85.00) on shares of 58.com in a research report on Monday, March 4th. Finally, Credit Suisse Group set a $84.00 price objective on shares of 58.com and gave the stock a “buy” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. 58.com has an average rating of “Buy” and an average price target of $68.75.
Shares of NYSE WUBA opened at $60.00 on Friday. The stock has a market capitalization of $8.80 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 1.09 and a beta of 1.73. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.01. 58.com Inc has a 52 week low of $50.30 and a 52 week high of $81.79.
58.com (NYSE:WUBA) last issued its earnings results on Tuesday, May 28th. The information services provider reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.12. The business had revenue of $438.30 million during the quarter, compared to analysts’ expectations of $434.43 million. 58.com had a net margin of 18.44% and a return on equity of 11.48%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 earnings per share. As a group, equities research analysts predict that 58.com Inc will post 2.51 EPS for the current fiscal year.
58.com Inc operates various multi-category online classifieds platforms and vertical 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; Anjuke, an online real estate listing platform; ChinaHR, an online recruitment platform that focuses on white collar jobs; and Jia Xiao Yi Dian Tong, an online platform for driver's license examination preparation and other related services.
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