FIL Ltd lessened its position in 58.com Inc (NYSE:WUBA) by 13.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 900,635 shares of the information services provider’s stock after selling 134,049 shares during the period. FIL Ltd owned approximately 0.61% of 58.com worth $66,287,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of WUBA. Royal Bank of Canada boosted its holdings in 58.com by 54.0% in the first quarter. Royal Bank of Canada now owns 4,991 shares of the information services provider’s stock valued at $398,000 after purchasing an additional 1,751 shares during the period. Genesis Asset Managers LLP purchased a new position in 58.com in the second quarter valued at $476,941,000. Atria Investments LLC purchased a new position in 58.com in the second quarter valued at $232,000. Advisory Services Network LLC purchased a new position in 58.com in the second quarter valued at $509,000. Finally, Atlas Capital Advisors LLC purchased a new position in 58.com in the second quarter valued at $205,000. 62.27% of the stock is owned by hedge funds and other institutional investors.
WUBA has been the subject of a number of recent research reports. TheStreet upgraded 58.com from a “c” rating to a “b-” rating in a report on Friday, August 17th. Zacks Investment Research upgraded 58.com from a “sell” rating to a “hold” rating in a report on Saturday, November 17th. ValuEngine lowered 58.com from a “buy” rating to a “hold” rating in a report on Saturday, November 10th. CLSA reiterated a “buy” rating on shares of 58.com in a report on Thursday, September 20th. Finally, Benchmark decreased their target price on 58.com from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, November 16th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. 58.com has an average rating of “Buy” and a consensus price target of $88.50.
58.com (NYSE:WUBA) last announced its quarterly earnings results on Wednesday, November 14th. The information services provider reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.20. The company had revenue of $527.20 million during the quarter, compared to the consensus estimate of $515.83 million. 58.com had a return on equity of 9.57% and a net margin of 16.13%. 58.com’s revenue for the quarter was up 28.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 EPS. As a group, research analysts anticipate that 58.com Inc will post 1.84 EPS for the current year.
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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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