USS Investment Management Ltd continued to hold its position in 58.com Inc (NYSE:WUBA) during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 129,000 shares of the information services provider’s stock at the end of the first quarter. USS Investment Management Ltd owned 0.09% of 58.com worth $4,565,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in 58.com during the third quarter valued at about $692,000. Coronation Fund Managers Ltd. raised its position in 58.com by 11,038.4% in the third quarter. Coronation Fund Managers Ltd. now owns 1,212,751 shares of the information services provider’s stock valued at $57,799,000 after buying an additional 1,201,863 shares during the last quarter. Sloane Robinson LLP bought a new position in 58.com during the third quarter valued at about $46,397,000. Bank of New York Mellon Corp raised its position in 58.com by 7.0% in the third quarter. Bank of New York Mellon Corp now owns 88,364 shares of the information services provider’s stock valued at $4,212,000 after buying an additional 5,772 shares during the last quarter. Finally, GAM Holding AG raised its position in 58.com by 2,255.5% in the third quarter. GAM Holding AG now owns 280,310 shares of the information services provider’s stock valued at $13,358,000 after buying an additional 268,410 shares during the last quarter. Institutional investors own 55.74% of the company’s stock.
Shares of 58.com Inc (NYSE:WUBA) traded up 3.67% during midday trading on Friday, hitting $42.12. The stock had a trading volume of 1,141,309 shares. The company’s 50 day moving average is $39.30 and its 200 day moving average is $34.58. The firm’s market cap is $6.12 billion. 58.com Inc has a 52 week low of $27.58 and a 52 week high of $55.28. 58.com also saw some unusual options trading on Wednesday. Traders acquired 40,000 put options on the company. This represents an increase of approximately 1,796% compared to the typical daily volume of 2,110 put options.
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Several equities analysts have recently weighed in on the company. Zacks Investment Research cut 58.com from a “hold” rating to a “sell” rating in a report on Tuesday, January 24th. Brean Capital reiterated a “hold” rating on shares of 58.com in a report on Tuesday, January 24th. Haitong Bank cut 58.com from a “neutral” rating to a “sell” rating and cut their price objective for the company from $31.00 to $30.00 in a report on Tuesday, March 14th. Benchmark Co. assumed coverage on 58.com in a report on Tuesday, April 18th. They set a “hold” rating on the stock. Finally, T.H. Capital initiated coverage on 58.com in a report on Wednesday, May 10th. They set a “buy” rating and a $48.00 price objective on the stock. Four analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $46.63.
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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