Profund Advisors LLC increased its holdings in 58.com Inc. (NYSE:WUBA) by 24.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,526 shares of the information services provider’s stock after purchasing an additional 1,491 shares during the quarter. Profund Advisors LLC’s holdings in 58.com were worth $332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. grew its stake in shares of 58.com by 7.3% in the second quarter. BlackRock Inc. now owns 4,299,458 shares of the information services provider’s stock worth $189,648,000 after purchasing an additional 291,891 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of 58.com by 12.8% in the second quarter. Teachers Advisors LLC now owns 40,487 shares of the information services provider’s stock worth $1,786,000 after purchasing an additional 4,600 shares during the last quarter. AJO LP bought a new stake in shares of 58.com in the second quarter worth about $201,000. Baillie Gifford & Co. bought a new stake in shares of 58.com in the second quarter worth about $59,373,000. Finally, Wells Fargo & Company MN grew its stake in shares of 58.com by 0.7% in the second quarter. Wells Fargo & Company MN now owns 14,881 shares of the information services provider’s stock worth $656,000 after purchasing an additional 100 shares during the last quarter. 60.03% of the stock is currently owned by institutional investors.
58.com Inc. (NYSE WUBA) opened at 64.85 on Friday. The stock’s 50 day moving average is $64.43 and its 200 day moving average is $48.80. The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 341.32 and a beta of 2.15. 58.com Inc. has a 12-month low of $27.58 and a 12-month high of $68.85.
58.com (NYSE:WUBA) last released its quarterly earnings data on Monday, August 21st. The information services provider reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.42. 58.com had a net margin of 2.14% and a return on equity of 1.04%. The firm had revenue of $382.81 million for the quarter. Equities analysts predict that 58.com Inc. will post $1.19 earnings per share for the current fiscal year.
Several brokerages have commented on WUBA. BidaskClub lowered shares of 58.com from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Zacks Investment Research lowered shares of 58.com from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. Morgan Stanley lowered shares of 58.com from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $42.00 to $40.00 in a report on Friday, June 30th. ValuEngine upgraded shares of 58.com from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Deutsche Bank AG upgraded shares of 58.com from a “hold” rating to a “buy” rating and raised their price objective for the stock from $41.00 to $70.00 in a report on Tuesday, August 22nd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $55.27.
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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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