Bank of Montreal Can grew its stake in 58.com Inc (NYSE:WUBA) by 18.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,296 shares of the information services provider’s stock after buying an additional 3,484 shares during the quarter. Bank of Montreal Can’s holdings in 58.com were worth $1,209,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in WUBA. Davis Selected Advisers boosted its holdings in shares of 58.com by 99.6% in the second quarter. Davis Selected Advisers now owns 1,821,925 shares of the information services provider’s stock valued at $98,275,000 after buying an additional 909,327 shares during the period. Coronation Fund Managers Ltd. raised its position in 58.com by 15.6% during the first quarter. Coronation Fund Managers Ltd. now owns 4,908,039 shares of the information services provider’s stock worth $239,120,000 after acquiring an additional 661,827 shares in the last quarter. California Public Employees Retirement System raised its position in 58.com by 257.8% during the second quarter. California Public Employees Retirement System now owns 821,975 shares of the information services provider’s stock worth $44,337,000 after acquiring an additional 592,241 shares in the last quarter. FMR LLC raised its position in shares of 58.com by 735.6% in the first quarter. FMR LLC now owns 533,106 shares of the information services provider’s stock valued at $35,014,000 after purchasing an additional 469,306 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of 58.com in the second quarter valued at about $21,323,000. Institutional investors own 62.45% of the company’s stock.
WUBA has been the topic of a number of analyst reports. New Street Research downgraded shares of 58.com from a “buy” rating to a “neutral” rating and set a $56.00 price objective on the stock. in a research note on Monday, June 29th. ValuEngine upgraded shares of 58.com from a “strong sell” rating to a “sell” rating in a report on Monday, August 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $60.33.
NYSE:WUBA opened at $55.67 on Wednesday. The company has a fifty day moving average of $55.63 and a 200-day moving average of $52.76. The firm has a market capitalization of $8.28 billion, a P/E ratio of 6.33, a P/E/G ratio of 0.83 and a beta of 1.12. 58.com Inc has a twelve month low of $37.92 and a twelve month high of $69.89.
58.com (NYSE:WUBA) last posted its quarterly earnings results on Friday, June 26th. The information services provider reported $1.53 earnings per share (EPS) for the quarter. The business had revenue of $361.37 million during the quarter. 58.com had a net margin of 61.33% and a return on equity of 30.81%. Equities research analysts anticipate that 58.com Inc will post 3.24 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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