58.com Inc (NYSE:WUBA) Short Interest Update

58.com Inc (NYSE:WUBA) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 2,630,000 shares, an increase of 15.9% from the December 15th total of 2,270,000 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average trading volume of 685,200 shares, the short-interest ratio is presently 3.8 days.

Several analysts have commented on WUBA shares. TheStreet upgraded shares of 58.com from a “c+” rating to a “b-” rating in a research note on Friday, November 15th. ValuEngine cut shares of 58.com from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $68.66.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. ETRADE Capital Management LLC grew its holdings in shares of 58.com by 13.3% during the second quarter. ETRADE Capital Management LLC now owns 15,912 shares of the information services provider’s stock worth $989,000 after buying an additional 1,863 shares in the last quarter. Maverick Capital Ltd. grew its holdings in shares of 58.com by 22.2% during the third quarter. Maverick Capital Ltd. now owns 83,494 shares of the information services provider’s stock worth $4,117,000 after buying an additional 15,184 shares in the last quarter. State Street Corp grew its holdings in shares of 58.com by 3.4% during the third quarter. State Street Corp now owns 1,956,481 shares of the information services provider’s stock worth $96,474,000 after buying an additional 64,902 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of 58.com by 15.8% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 26,423 shares of the information services provider’s stock worth $1,303,000 after buying an additional 3,600 shares in the last quarter. Finally, Comgest Global Investors S.A.S. grew its holdings in shares of 58.com by 231.9% during the third quarter. Comgest Global Investors S.A.S. now owns 721,070 shares of the information services provider’s stock worth $35,556,000 after buying an additional 503,823 shares in the last quarter. 61.94% of the stock is owned by institutional investors.

Shares of WUBA traded down $0.83 during trading hours on Tuesday, hitting $68.16. The stock had a trading volume of 1,071,200 shares, compared to its average volume of 770,244. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.62 and a current ratio of 1.62. The firm has a 50-day moving average price of $64.03 and a 200 day moving average price of $56.89. 58.com has a fifty-two week low of $47.19 and a fifty-two week high of $74.17. The firm has a market capitalization of $10.11 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 1.10 and a beta of 1.65.

58.com (NYSE:WUBA) last posted its earnings results on Monday, November 18th. The information services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.29. The firm had revenue of $602.00 million during the quarter, compared to analysts’ expectations of $589.12 million. 58.com had a net margin of 40.54% and a return on equity of 24.00%. The business’s revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.82 EPS. As a group, analysts predict that 58.com will post 5.92 EPS for the current fiscal year.

About 58.com

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.

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