Baillie Gifford & Co. Boosts Position in 58.com Inc (WUBA)

Baillie Gifford & Co. raised its stake in 58.com Inc (NYSE:WUBA) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,802,970 shares of the information services provider’s stock after purchasing an additional 34,034 shares during the period. Baillie Gifford & Co. owned about 3.28% of 58.com worth $260,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of WUBA. Tree Line Advisors Hong Kong Ltd. acquired a new stake in shares of 58.com during the 4th quarter worth about $17,347,000. Vanguard Group Inc raised its position in shares of 58.com by 2.5% during the 3rd quarter. Vanguard Group Inc now owns 3,297,862 shares of the information services provider’s stock worth $242,722,000 after acquiring an additional 81,497 shares in the last quarter. Vanguard Group Inc. raised its position in shares of 58.com by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,297,862 shares of the information services provider’s stock worth $242,722,000 after acquiring an additional 81,497 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of 58.com by 24.2% during the 3rd quarter. Mackenzie Financial Corp now owns 7,700 shares of the information services provider’s stock worth $567,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of 58.com by 10.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 328,725 shares of the information services provider’s stock worth $24,220,000 after acquiring an additional 30,814 shares in the last quarter. 59.12% of the stock is currently owned by institutional investors.

Several brokerages have recently weighed in on WUBA. Zacks Investment Research raised 58.com from a “sell” rating to a “hold” rating in a research report on Friday, February 22nd. Benchmark restated a “buy” rating and set a $83.00 price target (down previously from $85.00) on shares of 58.com in a research note on Monday, March 4th. Macquarie downgraded 58.com from an “outperform” rating to a “neutral” rating in a research note on Friday, March 1st. Credit Suisse Group set a $84.00 price target on 58.com and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, ValuEngine downgraded 58.com from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $69.00.

Shares of NYSE WUBA traded down $0.39 during trading on Thursday, reaching $60.27. The company had a trading volume of 17,382 shares, compared to its average volume of 1,040,217. 58.com Inc has a twelve month low of $50.30 and a twelve month high of $89.90. The stock has a market cap of $8.90 billion, a price-to-earnings ratio of 30.99, a price-to-earnings-growth ratio of 0.89 and a beta of 1.62.

58.com (NYSE:WUBA) last announced its quarterly earnings data on Friday, March 1st. The information services provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.18. 58.com had a return on equity of 9.30% and a net margin of 15.11%. The business had revenue of $525.89 million during the quarter, compared to the consensus estimate of $519.09 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. The business’s revenue for the quarter was up 24.3% on a year-over-year basis. As a group, analysts forecast that 58.com Inc will post 2.12 EPS for the current fiscal year.

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58.com Company Profile

58.com Inc operates online classifieds and 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; and Anjuke, an online real estate listing platform.

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Institutional Ownership by Quarter for 58.com (NYSE:WUBA)

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