Candriam Luxembourg S.C.A. cut its stake in 58.com Inc (NYSE:WUBA) by 51.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,000 shares of the information services provider’s stock after selling 142,500 shares during the quarter. Candriam Luxembourg S.C.A. owned approximately 0.09% of 58.com worth $7,318,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of WUBA. Standard Life Aberdeen plc raised its position in shares of 58.com by 5,147.6% in the third quarter. Standard Life Aberdeen plc now owns 4,211,183 shares of the information services provider’s stock valued at $309,943,000 after purchasing an additional 4,130,933 shares during the period. Investec Asset Management LTD bought a new position in shares of 58.com in the fourth quarter valued at about $93,068,000. Hillhouse Capital Advisors Ltd. bought a new position in shares of 58.com in the fourth quarter valued at about $80,482,000. Coronation Fund Managers Ltd. raised its position in shares of 58.com by 33.6% in the fourth quarter. Coronation Fund Managers Ltd. now owns 4,188,639 shares of the information services provider’s stock valued at $227,066,000 after purchasing an additional 1,053,030 shares during the period. Finally, Alliancebernstein L.P. bought a new position in shares of 58.com in the third quarter valued at about $47,270,000. 58.55% of the stock is currently owned by institutional investors.
WUBA stock opened at $64.48 on Friday. 58.com Inc has a 52 week low of $50.30 and a 52 week high of $89.90. The stock has a market capitalization of $9.28 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 0.92 and a beta of 1.62.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of 58.com from a “sell” rating to a “hold” rating in a research report on Thursday, December 13th. ValuEngine downgraded shares of 58.com from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Macquarie downgraded shares of 58.com from an “outperform” rating to a “neutral” rating in a research note on Friday, March 1st. Credit Suisse Group set a $84.00 price target on shares of 58.com and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Morgan Stanley downgraded shares of 58.com to a “sell” rating and set a $40.00 price target on the stock. in a research note on Thursday, December 20th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $69.00.
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58.com Inc operates online classifieds and listing platforms that enable local businesses and consumers to connect, share information, and conduct business in the People's Republic of China. It operates multi-content category online classified platforms primarily under the 58 and Ganji names; and Anjuke, an online real estate listing platform.
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