BlackRock Inc. raised its position in shares of 58.com Inc (NYSE:WUBA) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,133,804 shares of the information services provider’s stock after purchasing an additional 240,196 shares during the period. BlackRock Inc. owned 3.50% of 58.com worth $278,304,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Parkwood LLC boosted its stake in 58.com by 14.2% during the 4th quarter. Parkwood LLC now owns 6,267 shares of the information services provider’s stock valued at $340,000 after purchasing an additional 778 shares during the period. SG Americas Securities LLC lifted its stake in shares of 58.com by 5.8% in the 3rd quarter. SG Americas Securities LLC now owns 15,657 shares of the information services provider’s stock worth $1,152,000 after acquiring an additional 852 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of 58.com by 433.0% in the 4th quarter. Quadrant Capital Group LLC now owns 1,194 shares of the information services provider’s stock worth $64,000 after acquiring an additional 970 shares during the period. Mackenzie Financial Corp lifted its stake in shares of 58.com by 24.2% in 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 during the period. Finally, American International Group Inc. acquired a new stake in shares of 58.com in the 3rd quarter worth approximately $118,000. 59.12% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on WUBA shares. Zacks Investment Research raised shares of 58.com from a “sell” rating to a “hold” rating in a research note on Saturday, November 17th. Credit Suisse Group set a $84.00 price target on shares of 58.com and gave the stock a “buy” rating in a research note on Friday, March 1st. ValuEngine lowered shares of 58.com from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Benchmark reduced their price target on shares of 58.com from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, November 16th. Finally, Morgan Stanley lowered shares of 58.com to a “sell” rating and set a $40.00 price target for the company. in a research note on Thursday, December 20th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. 58.com currently has a consensus rating of “Hold” and a consensus target price of $69.00.
58.com (NYSE:WUBA) last released its earnings results on Friday, March 1st. The information services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.56 by $0.18. 58.com had a net margin of 15.11% and a return on equity of 9.30%. The business had revenue of $525.89 million during the quarter, compared to analyst estimates of $519.09 million. During the same period in the prior year, the business earned $0.57 earnings per share. The business’s quarterly revenue was up 24.3% on a year-over-year basis. Research analysts anticipate that 58.com Inc will post 2.12 earnings per share for the current year.
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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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