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

58.com Inc. (NYSE:WUBA) saw some unusual options trading on Friday. Investors bought 19,852 put options on the stock. This represents an increase of approximately 5,773% compared to the typical daily volume of 338 put options.

A number of hedge funds have recently modified their holdings of WUBA. Carmignac Gestion lifted its position in 58.com by 1,105.5% in the third quarter. Carmignac Gestion now owns 5,172,323 shares of the information services provider’s stock worth $326,580,000 after purchasing an additional 4,743,260 shares during the period. Baillie Gifford & Co. lifted its position in 58.com by 258.4% in the third quarter. Baillie Gifford & Co. now owns 4,823,568 shares of the information services provider’s stock worth $304,561,000 after purchasing an additional 3,477,536 shares during the period. Dodge & Cox bought a new position in 58.com in the second quarter worth $65,264,000. General Atlantic LLC lifted its position in 58.com by 22.4% in the second quarter. General Atlantic LLC now owns 7,150,000 shares of the information services provider’s stock worth $315,387,000 after purchasing an additional 1,310,000 shares during the period. Finally, Franklin Resources Inc. lifted its position in 58.com by 78.4% in the second quarter. Franklin Resources Inc. now owns 2,704,340 shares of the information services provider’s stock worth $119,289,000 after purchasing an additional 1,188,300 shares during the period. 60.92% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on WUBA shares. Zacks Investment Research downgraded shares of 58.com from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 16th. Deutsche Bank upgraded shares of 58.com from a “hold” rating to a “buy” rating and raised their price objective for the stock from $41.00 to $70.00 in a research note on Tuesday, August 22nd. upgraded shares of 58.com from a “hold” rating to a “buy” rating and raised their price objective for the stock from $45.00 to $69.00 in a research note on Tuesday, August 22nd. BidaskClub downgraded shares of 58.com from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 26th. Finally, TheStreet upgraded shares of 58.com from a “c+” rating to a “b-” rating in a research note on Friday, November 10th. Three analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $55.50.

58.com (NYSE:WUBA) opened at $69.25 on Monday. The company has a market capitalization of $10,145.82, a price-to-earnings ratio of 93.58 and a beta of 2.15. 58.com has a 12-month low of $27.58 and a 12-month high of $79.79. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.06 and a quick ratio of 1.06.

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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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