Symmetry Peak Management LLC purchased a new position in shares of 58.com Inc. (NYSE:WUBA) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 46,881 shares of the information services provider’s stock, valued at approximately $1,659,000.
Several other large investors also recently bought and sold shares of WUBA. Quantbot Technologies LP bought a new stake in 58.com during the first quarter worth about $155,000. Profund Advisors LLC bought a new stake in 58.com during the first quarter worth about $214,000. Teacher Retirement System of Texas bought a new stake in 58.com during the first quarter worth about $240,000. World Asset Management Inc bought a new stake in 58.com during the first quarter worth about $255,000. Finally, Comerica Bank bought a new stake in 58.com during the first quarter worth about $263,000. Institutional investors and hedge funds own 64.78% of the company’s stock.
Shares of 58.com Inc. (NYSE:WUBA) traded up 1.21% on Friday, reaching $41.02. The company had a trading volume of 803,891 shares. 58.com Inc. has a 1-year low of $27.58 and a 1-year high of $55.28. The firm has a 50-day moving average price of $42.57 and a 200 day moving average price of $35.56. The firm’s market capitalization is $5.96 billion. 58.com also was the recipient of unusually large options trading activity on Thursday. Stock traders bought 44,068 put options on the stock. This is an increase of 984% compared to the typical volume of 4,066 put options.
58.com (NYSE:WUBA) last released its earnings results on Thursday, May 25th. The information services provider reported ($0.02) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.27. The firm had revenue of $288.19 million during the quarter. 58.com had a negative net margin of 3.18% and a negative return on equity of 1.57%. Equities research analysts predict that 58.com Inc. will post $0.84 earnings per share for the current year.
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A number of equities research analysts have recently issued reports on the company. TH Capital assumed coverage on 58.com in a research report on Wednesday, May 10th. They issued a “buy” rating and a $48.00 price target for the company. Morgan Stanley restated an “equal weight” rating and issued a $42.00 price target on shares of 58.com in a research report on Sunday, May 28th. CLSA upgraded 58.com from an “underperform” rating to an “outperform” rating and upped their price target for the company from $39.00 to $50.00 in a research report on Thursday, May 25th. Bank of America Corporation upped their price target on 58.com from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, May 30th. Finally, Zacks Investment Research lowered 58.com from a “buy” rating to a “hold” rating in a research report on Saturday, June 10th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. 58.com has an average rating of “Hold” and an average target price of $46.91.
58.com Inc is a holding company. The Company’s business consists of its online classifieds and listing platforms. Its online classifieds and listings platforms enable local merchants and consumers to connect, share information and conduct business in China. These platforms include 58, Ganji and Anjuke.
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