58.com Inc (NYSE:WUBA) was the recipient of some unusual options trading on Tuesday. Investors purchased 5,139 call options on the stock. This is an increase of 4,794% compared to the average daily volume of 105 call options.
Hedge funds and other institutional investors have recently modified their holdings of the business. Daiwa Securities Group Inc. bought a new position in 58.com in the 2nd quarter worth about $58,000. Tower Research Capital LLC TRC bought a new stake in shares of 58.com during the 2nd quarter valued at about $90,000. Quadrant Capital Group LLC boosted its position in shares of 58.com by 61.1% during the 1st quarter. Quadrant Capital Group LLC now owns 1,923 shares of the information services provider’s stock valued at $124,000 after acquiring an additional 729 shares during the last quarter. Ellington Management Group LLC bought a new stake in shares of 58.com during the 2nd quarter valued at about $230,000. Finally, Banque Pictet & Cie SA bought a new stake in shares of 58.com during the 2nd quarter valued at about $260,000. Institutional investors and hedge funds own 57.79% of the company’s stock.
Shares of 58.com stock traded down $2.03 during trading hours on Wednesday, hitting $51.47. 5,271 shares of the company’s stock traded hands, compared to its average volume of 859,207. 58.com has a 12-month low of $49.93 and a 12-month high of $77.60. The stock has a market capitalization of $7.67 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 0.93 and a beta of 1.62. The stock’s fifty day moving average is $58.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.29 and a quick ratio of 1.29.
Several brokerages have recently issued reports on WUBA. Jefferies Financial Group began coverage on 58.com in a research report on Monday, August 5th. They set a “buy” rating and a $66.40 target price for the company. Credit Suisse Group lowered 58.com from an “outperform” rating to a “neutral” rating and set a $57.23 target price for the company. in a research report on Tuesday, July 16th. Zacks Investment Research lowered 58.com from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Finally, ValuEngine lowered 58.com from a “buy” rating to a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $62.93.
58.com Inc operates various multi-category online classifieds platforms and vertical 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; Anjuke, an online real estate listing platform; ChinaHR, an online recruitment platform that focuses on white collar jobs; and Jia Xiao Yi Dian Tong, an online platform for driver's license examination preparation and other related services.
Further Reading: Put Option Volume
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