Traders Purchase Large Volume of Call Options on 58.com (WUBA)

58.com Inc. (NYSE:WUBA) saw unusually large options trading on Thursday. Stock traders purchased 44,187 call options on the stock. This represents an increase of approximately 905% compared to the average daily volume of 4,395 call options.

Several analysts have recently issued reports on WUBA shares. TheStreet upgraded 58.com from a “d+” rating to a “c” rating in a research note on Thursday, May 11th. Zacks Investment Research upgraded 58.com from a “sell” rating to a “hold” rating in a research note on Saturday, February 18th. Benchmark Co. started coverage on 58.com in a research note on Tuesday, April 18th. They set a “hold” rating for the company. BidaskClub downgraded 58.com from a “buy” rating to a “hold” rating in a research note on Friday. Finally, T.H. Capital started coverage on 58.com in a research note on Wednesday, May 10th. They set a “buy” rating and a $48.00 price target for the company. Three 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. 58.com presently has an average rating of “Hold” and an average price target of $46.91.

Shares of 58.com (NYSE:WUBA) opened at 41.02 on Friday. The company’s market cap is $5.96 billion. 58.com has a 52 week low of $27.58 and a 52 week high of $55.28. 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 posted its quarterly earnings results on Thursday, May 25th. The information services provider reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.27. 58.com had a negative return on equity of 1.57% and a negative net margin of 3.18%. The business had revenue of $288.19 million during the quarter. On average, equities analysts forecast that 58.com will post $0.84 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of WUBA. State Street Corp boosted its position in 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 last quarter. Dimensional Fund Advisors LP acquired a new position in 58.com during the fourth quarter worth approximately $7,526,000. Russell Investments Group Ltd. acquired a new position in 58.com during the fourth quarter worth approximately $320,000. Global Thematic Partners LLC boosted its position in 58.com by 78.6% in the first quarter. Global Thematic Partners LLC now owns 737,556 shares of the information services provider’s stock worth $26,103,000 after buying an additional 324,633 shares during the last quarter. Finally, Davis Selected Advisers boosted its position in 58.com by 14.9% in the fourth quarter. Davis Selected Advisers now owns 26,526 shares of the information services provider’s stock worth $743,000 after buying an additional 3,440 shares during the last quarter. Institutional investors and hedge funds own 64.78% of the company’s stock.

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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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