US Bancorp DE reduced its holdings in 58.com Inc (NYSE:WUBA) by 29.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 13,291 shares of the information services provider’s stock after selling 5,600 shares during the period. US Bancorp DE’s holdings in 58.com were worth $978,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in WUBA. Atlas Capital Advisors LLC acquired a new position in 58.com in the 2nd quarter valued at approximately $205,000. Hikari Power Ltd acquired a new position in 58.com in the 2nd quarter valued at approximately $225,000. Atria Investments LLC acquired a new position in 58.com in the 2nd quarter valued at approximately $232,000. Tower Research Capital LLC TRC increased its position in 58.com by 59.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,410 shares of the information services provider’s stock valued at $236,000 after acquiring an additional 1,267 shares during the period. Finally, Royal Bank of Canada increased its position in 58.com by 54.0% in the 1st quarter. Royal Bank of Canada now owns 4,991 shares of the information services provider’s stock valued at $398,000 after acquiring an additional 1,751 shares during the period. Hedge funds and other institutional investors own 62.27% of the company’s stock.
WUBA opened at $54.65 on Friday. 58.com Inc has a twelve month low of $53.44 and a twelve month high of $89.90. The firm has a market cap of $8.01 billion, a PE ratio of 41.09 and a beta of 1.93.
WUBA has been the subject of several recent research reports. CLSA restated a “buy” rating on shares of 58.com in a research report on Thursday, September 20th. ValuEngine cut shares of 58.com from a “buy” rating to a “hold” rating in a research report on Saturday, November 10th. Zacks Investment Research cut shares of 58.com from a “hold” rating to a “sell” rating in a research report on Thursday, November 8th. Benchmark decreased their price target on shares of 58.com from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, November 16th. Finally, TheStreet upgraded shares of 58.com from a “c” rating to a “b-” rating in a research report on Friday, August 17th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $88.50.
58.com Company Profile
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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