Macquarie Group Ltd. increased its position in shares of 58.com Inc. (NYSE:WUBA) by 450.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,300 shares of the company’s stock after buying an additional 2,700 shares during the period. Macquarie Group Ltd.’s holdings in 58.com were worth $151,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of WUBA. Strs Ohio acquired a new stake in shares of 58.com during the second quarter worth approximately $123,000. Howard Hughes Medical Institute boosted its stake in shares of 58.com by 16.3% in the first quarter. Howard Hughes Medical Institute now owns 2,592 shares of the company’s stock worth $144,000 after buying an additional 364 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of 58.com during the second quarter worth approximately $207,000. Panagora Asset Management Inc. boosted its stake in shares of 58.com by 12.9% in the second quarter. Panagora Asset Management Inc. now owns 4,777 shares of the company’s stock worth $219,000 after buying an additional 544 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of 58.com during the second quarter worth approximately $243,000. Institutional investors own 48.48% of the company’s stock.
58.com Inc. (NYSE:WUBA) opened at 47.52 on Wednesday. The stock’s market capitalization is $6.85 billion. 58.com Inc. has a 1-year low of $42.57 and a 1-year high of $70.27. The company’s 50-day moving average is $47.76 and its 200 day moving average is $50.53.
58.com (NYSE:WUBA) last announced its quarterly earnings data on Thursday, August 18th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of ($0.11) by $0.26. 58.com had a negative net margin of 27.86% and a negative return on equity of 6.59%. The business earned $297.80 million during the quarter, compared to analysts’ expectations of $303.42 million. Equities analysts predict that 58.com Inc. will post ($0.42) earnings per share for the current year.
A number of brokerages have commented on WUBA. Deutsche Bank AG began coverage on shares of 58.com in a report on Wednesday. They set a “buy” rating for the company. Zacks Investment Research raised shares of 58.com from a “sell” rating to a “hold” rating in a research note on Saturday, September 3rd. Macquarie began coverage on shares of 58.com in a research note on Friday, July 8th. They issued an “outperform” rating and a $71.00 price objective for the company. Finally, Brean Capital reissued a “buy” rating on shares of 58.com in a research note on Wednesday, August 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price 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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