Foxhaven Asset Management LP maintained its stake in 58.com Inc. (NYSE:WUBA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 416,469 shares of the information services provider’s stock at the end of the first quarter. 58.com makes up 1.0% of Foxhaven Asset Management LP’s investment portfolio, making the stock its 21st largest position. Foxhaven Asset Management LP’s holdings in 58.com were worth $14,739,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. DekaBank Deutsche Girozentrale acquired a new stake in 58.com during the first quarter valued at approximately $573,000. Quantbot Technologies LP acquired a new stake in 58.com during the first quarter valued at approximately $155,000. Profund Advisors LLC acquired a new stake in 58.com during the first quarter valued at approximately $214,000. Comerica Bank acquired a new stake in 58.com during the first quarter valued at approximately $263,000. Finally, Teacher Retirement System of Texas acquired a new stake in 58.com during the first quarter valued at approximately $240,000. 64.78% of the stock is currently owned by institutional investors and hedge funds.
58.com Inc. (NYSE WUBA) traded up 1.21% on Friday, hitting $41.02. 803,891 shares of the stock traded hands. The firm has a 50-day moving average price of $42.57 and a 200-day moving average price of $35.56. 58.com Inc. has a 12 month low of $27.58 and a 12 month high of $55.28. The company’s market capitalization is $5.96 billion. 58.com also saw unusually large options trading activity on Thursday. Traders purchased 44,068 put options on the company. This is an increase of 984% compared to the average daily volume of 4,066 put options.
58.com (NYSE:WUBA) last posted its quarterly earnings results on Thursday, May 25th. The information services provider reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.27. 58.com had a negative net margin of 3.18% and a negative return on equity of 1.57%. The company had revenue of $288.19 million during the quarter. Analysts forecast that 58.com Inc. will post $0.84 earnings per share for the current year.
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of 58.com from a “buy” rating to a “hold” rating in a research note on Saturday, June 10th. BidaskClub cut shares of 58.com from a “buy” rating to a “hold” rating in a report on Friday. Bank of America Corporation lifted their target price on shares of 58.com from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, May 30th. CLSA raised shares of 58.com from an “underperform” rating to an “outperform” rating and lifted their target price for the stock from $39.00 to $50.00 in a report on Thursday, May 25th. Finally, TH Capital initiated coverage on shares of 58.com in a report on Wednesday, May 10th. They issued a “buy” rating and a $48.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target 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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