Capital Fund Management S.A. bought a new position in 58.com Inc (NYSE:WUBA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 62,902 shares of the company’s stock, valued at approximately $2,887,000.
Other institutional investors have also recently modified their holdings of the company. Pictet Asset Management Ltd. raised its position in shares of 58.com by 8.3% in the first quarter. Pictet Asset Management Ltd. now owns 61,180 shares of the company’s stock worth $3,242,000 after buying an additional 4,700 shares during the period. UBS Group AG raised its position in shares of 58.com by 216.6% in the first quarter. UBS Group AG now owns 19,320 shares of the company’s stock worth $1,075,000 after buying an additional 13,217 shares during the period. Serenity Capital Management Ltd raised its position in shares of 58.com by 211.4% in the first quarter. Serenity Capital Management Ltd now owns 464,722 shares of the company’s stock worth $25,862,000 after buying an additional 315,466 shares during the period. Aviva PLC raised its position in shares of 58.com by 8.0% in the first quarter. Aviva PLC now owns 5,400 shares of the company’s stock worth $301,000 after buying an additional 400 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of 58.com by 7.0% in the first quarter. JPMorgan Chase & Co. now owns 163,133 shares of the company’s stock worth $9,077,000 after buying an additional 10,637 shares during the period.
58.com Inc (NYSE:WUBA) traded down 1.86% during midday trading on Tuesday, hitting $47.52. The stock had a trading volume of 1,130,687 shares. The stock’s market cap is $6.85 billion. 58.com Inc has a 12 month low of $42.57 and a 12 month high of $70.27. The stock has a 50 day moving average of $47.76 and a 200 day moving average of $50.53.
58.com (NYSE:WUBA) last issued its earnings results on Thursday, August 18th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.26. The firm had revenue of $297.80 million for the quarter, compared to analyst estimates of $303.42 million. Analysts expect that 58.com Inc will post ($0.42) EPS for the current fiscal year.
A number of brokerages recently issued reports on WUBA. Brean Capital restated a “buy” rating on shares of 58.com in a research note on Tuesday, August 9th. Zacks Investment Research lowered 58.com from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Finally, Macquarie began coverage on 58.com in a research note on Friday, July 8th. They set an “outperform” rating and a $71.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $59.63.
58.com Inc (58.com) is a holding company. The Company operates an online marketplace serving local merchants and consumers in China. The Company’s online marketplace enables local merchants and consumers to connect, share information and conduct business. The Company’s online marketplace contains local information in approximately 395 cities, across the content categories, including housing, jobs, used goods, automotive, pets, tickets, yellow pages and other local services.
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