Stock Traders Buy High Volume of 58.com Put Options (WUBA)

58.com Inc. (NYSE:WUBA) was the target of some unusual options trading on Thursday. Investors acquired 44,068 put options on the company. This represents an increase of approximately 984% compared to the typical volume of 4,066 put options.

Several large investors have recently made changes to their positions in WUBA. Russell Investments Group Ltd. bought a new stake in shares of 58.com during the fourth quarter worth about $320,000. Commerzbank Aktiengesellschaft FI bought a new stake in shares of 58.com during the fourth quarter worth about $538,000. State Street Corp raised its stake in shares of 58.com by 1.4% in the fourth quarter. State Street Corp now owns 1,106,200 shares of the information services provider’s stock worth $30,972,000 after buying an additional 14,835 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of 58.com during the fourth quarter worth about $7,526,000. Finally, Aviva PLC raised its stake in shares of 58.com by 7.3% in the fourth quarter. Aviva PLC now owns 13,200 shares of the information services provider’s stock worth $370,000 after buying an additional 900 shares during the period. 64.78% of the stock is currently owned by institutional investors.

Shares of 58.com (NYSE WUBA) opened at 41.02 on Friday. 58.com has a 1-year low of $27.58 and a 1-year high of $55.28. The firm’s market cap is $5.96 billion. The company’s 50 day moving average price is $42.62 and its 200-day moving average price is $35.61.

58.com (NYSE:WUBA) last announced its 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. The company had revenue of $288.19 million for the quarter. 58.com had a negative return on equity of 1.57% and a negative net margin of 3.18%. Equities analysts expect that 58.com will post $0.84 EPS for the current fiscal year.

A number of research analysts have recently weighed in on WUBA shares. Benchmark Co. started coverage on 58.com in a research report on Tuesday, April 18th. They issued a “hold” rating for the company. Zacks Investment Research upgraded 58.com from a “sell” rating to a “hold” rating in a research report on Saturday, February 18th. Haitong Bank cut 58.com from a “neutral” rating to a “sell” rating and dropped their price target for the company from $31.00 to $30.00 in a research report on Tuesday, March 14th. 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. Finally, TheStreet upgraded 58.com from a “d+” rating to a “c” rating in a research report on Thursday, May 11th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.91.

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About 58.com

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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