500.com Limited (WBAI) Stock Rating Lowered by ValuEngine

ValuEngine cut shares of 500.com Limited (NYSE:WBAI) from a sell rating to a strong sell rating in a research report released on Thursday, May 11th. The firm currently has $12.00 target price on the stock.

Shares of 500.com Limited (NYSE WBAI) opened at 9.42 on Thursday. 500.com Limited has a 52 week low of $8.12 and a 52 week high of $19.98. The stock’s market capitalization is $384.70 million. The company’s 50 day moving average price is $9.60 and its 200-day moving average price is $12.51.

500.com Limited (NYSE:WBAI) last announced its earnings results on Wednesday, May 10th. The company reported ($0.22) earnings per share for the quarter. The firm had revenue of $2.68 million during the quarter. Equities research analysts predict that 500.com Limited will post ($0.39) EPS for the current year.

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Several hedge funds have recently made changes to their positions in WBAI. Guggenheim Capital LLC increased its stake in shares of 500.com Limited by 0.7% in the fourth quarter. Guggenheim Capital LLC now owns 19,860 shares of the company’s stock valued at $304,000 after buying an additional 138 shares in the last quarter. PEAK6 Investments L.P. acquired a new stake in shares of 500.com Limited during the first quarter valued at $268,000. State Street Corp increased its position in 500.com Limited by 31.6% in the fourth quarter. State Street Corp now owns 65,103 shares of the company’s stock worth $998,000 after buying an additional 15,623 shares during the period. Dimensional Fund Advisors LP purchased a new position in 500.com Limited during the fourth quarter worth approximately $1,253,000. Finally, Top Ace Asset Management Ltd purchased a new position in 500.com Limited during the third quarter worth approximately $3,526,000. Institutional investors own 22.07% of the company’s stock.

About 500.com Limited

500.com Limited is an online sports lottery service provider in China. The Company acts as an aggregator and processor of lottery purchase orders from its registered user accounts and derive substantially all of its revenues from service fees paid to it by provincial sports lottery administration centers for the purchase orders of sports lottery products that it direct to such centers.

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