Shell Asset Management Co. Decreases Stake in 58.com Inc. (NYSE:WUBA)
Shell Asset Management Co. lowered its stake in 58.com Inc. (NYSE:WUBA) by 13.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,548 shares of the information services provider’s stock after selling 3,305 shares during the period. Shell Asset Management Co.’s holdings in 58.com were worth $906,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of WUBA. Russell Investments Group Ltd. purchased a new position in 58.com during the fourth quarter valued at about $320,000. Dimensional Fund Advisors LP purchased a new position in 58.com during the fourth quarter valued at about $7,526,000. UBS Asset Management Americas Inc. increased its position in 58.com by 19.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 333,562 shares of the information services provider’s stock valued at $9,340,000 after buying an additional 53,300 shares in the last quarter. Teachers Advisors LLC increased its position in 58.com by 12.3% in the fourth quarter. Teachers Advisors LLC now owns 32,787 shares of the information services provider’s stock valued at $918,000 after buying an additional 3,600 shares in the last quarter. Finally, Macquarie Group Ltd. increased its position in 58.com by 1,828.7% in the fourth quarter. Macquarie Group Ltd. now owns 127,431 shares of the information services provider’s stock valued at $3,568,000 after buying an additional 120,824 shares in the last quarter. 66.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of 58.com Inc. (NYSE WUBA) opened at 51.74 on Thursday. 58.com Inc. has a 52 week low of $27.58 and a 52 week high of $55.09. The company’s 50-day moving average price is $48.01 and its 200 day moving average price is $40.21. The firm’s market cap is $7.52 billion.
58.com (NYSE:WUBA) last announced its quarterly earnings data on Thursday, May 25th. The information services provider reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.27. 58.com had a negative net margin of 3.18% and a negative return on equity of 1.57%. The firm had revenue of $288.19 million for the quarter. On average, equities analysts anticipate that 58.com Inc. will post $0.85 earnings per share for the current year.
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WUBA has been the topic of several research reports. Benchmark Co. initiated coverage on 58.com in a report on Tuesday, April 18th. They set a “hold” rating on the stock. Zacks Investment Research raised 58.com from a “hold” rating to a “strong-buy” rating and set a $46.00 price target on the stock in a research note on Wednesday, May 3rd. T.H. Capital started coverage on 58.com in a research note on Wednesday, May 10th. They issued a “buy” rating and a $48.00 price target on the stock. TH Capital started coverage on 58.com in a research note on Wednesday, May 10th. They issued a “buy” rating and a $48.00 price target on the stock. Finally, TheStreet raised 58.com from a “d+” rating to a “c” rating in a research note on Thursday, May 11th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $45.91.
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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