Compagnie Lombard Odier SCmA Acquires New Position in 58.com Inc. (WUBA)
Compagnie Lombard Odier SCmA acquired a new stake in shares of 58.com Inc. (NYSE:WUBA) during the third quarter, Holdings Channel reports. The firm acquired 6,450 shares of the company’s stock, valued at approximately $307,000.
Several other hedge funds have also modified their holdings of the stock. Great West Life Assurance Co. Can raised its stake in shares of 58.com by 7.7% in the third quarter. Great West Life Assurance Co. Can now owns 30,700 shares of the company’s stock valued at $1,460,000 after buying an additional 2,200 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of 58.com by 24.1% in the third quarter. BNP Paribas Arbitrage SA now owns 242,526 shares of the company’s stock worth $11,559,000 after buying an additional 47,147 shares during the period. BlackRock Japan Co. Ltd raised its position in shares of 58.com by 6.8% in the third quarter. BlackRock Japan Co. Ltd now owns 100,405 shares of the company’s stock worth $4,785,000 after buying an additional 6,358 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of 58.com by 65.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 186,031 shares of the company’s stock worth $8,537,000 after buying an additional 73,476 shares during the period. Finally, Ward Ferry Management BVI Ltd raised its position in shares of 58.com by 11.4% in the third quarter. Ward Ferry Management BVI Ltd now owns 721,180 shares of the company’s stock worth $34,371,000 after buying an additional 73,800 shares during the period. Hedge funds and other institutional investors own 56.21% of the company’s stock.
58.com Inc. (NYSE:WUBA) traded up 0.37% during midday trading on Friday, hitting $30.16. The stock had a trading volume of 576,722 shares. 58.com Inc. has a 12 month low of $27.72 and a 12 month high of $61.59. The stock’s market cap is $4.36 billion. The stock has a 50 day moving average of $30.59 and a 200 day moving average of $42.24.
58.com (NYSE:WUBA) last issued its earnings results on Thursday, November 10th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.10. The firm had revenue of $306.50 million for the quarter, compared to analyst estimates of $308.29 million. 58.com had a negative return on equity of 5.05% and a negative net margin of 9.27%. The business’s revenue for the quarter was up 44.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.50) EPS. Analysts expect that 58.com Inc. will post ($0.31) EPS for the current fiscal year.
WUBA has been the subject of a number of research analyst reports. Brean Capital restated a “buy” rating on shares of 58.com in a research note on Tuesday, October 18th. Deutsche Bank AG initiated coverage on 58.com in a research note on Wednesday, October 5th. They issued a “buy” rating and a $65.00 target price for the company. Zacks Investment Research upgraded 58.com from a “sell” rating to a “hold” rating in a research note on Thursday, October 20th. HSBC lowered 58.com from a “buy” rating to a “hold” rating and reduced their target price for the stock from $66.00 to $37.00 in a research note on Tuesday, November 15th. Finally, Credit Suisse Group lowered 58.com from an “outperform” rating to a “neutral” rating in a research note on Friday, November 11th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $50.80.
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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