58.com Inc (WUBA) Position Cut by First Trust Advisors LP

First Trust Advisors LP lessened its holdings in shares of 58.com Inc (NYSE:WUBA) by 31.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,153 shares of the information services provider’s stock after selling 14,423 shares during the quarter. First Trust Advisors LP’s holdings in 58.com were worth $2,293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Genesis Asset Managers LLP raised its stake in 58.com by 11.7% during the 3rd quarter. Genesis Asset Managers LLP now owns 7,684,938 shares of the information services provider’s stock valued at $565,611,000 after purchasing an additional 806,641 shares during the period. BlackRock Inc. increased its stake in 58.com by 5.0% in the 2nd quarter. BlackRock Inc. now owns 4,467,505 shares of the information services provider’s stock worth $309,777,000 after acquiring an additional 213,701 shares during the last quarter. Coronation Fund Managers Ltd. increased its stake in 58.com by 59.8% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 3,135,609 shares of the information services provider’s stock worth $230,781,000 after acquiring an additional 1,173,951 shares during the last quarter. Marshall Wace LLP increased its stake in 58.com by 99.7% in the 2nd quarter. Marshall Wace LLP now owns 1,058,141 shares of the information services provider’s stock worth $73,371,000 after acquiring an additional 528,249 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in 58.com by 75.9% in the 2nd quarter. Janus Henderson Group PLC now owns 748,698 shares of the information services provider’s stock worth $51,904,000 after acquiring an additional 323,098 shares during the last quarter. 62.27% of the stock is currently owned by institutional investors.

WUBA has been the topic of a number of research reports. TheStreet raised 58.com from a “c” rating to a “b-” rating in a research note on Friday, August 17th. Benchmark reduced their price objective on 58.com from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, November 16th. CLSA reaffirmed a “buy” rating on shares of 58.com in a research note on Thursday, September 20th. ValuEngine raised 58.com from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. Finally, Zacks Investment Research upgraded 58.com from a “sell” rating to a “hold” rating in a report on Saturday, November 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $88.50.

WUBA opened at $59.59 on Friday. 58.com Inc has a 52-week low of $52.14 and a 52-week high of $89.90. The firm has a market cap of $8.39 billion, a P/E ratio of 44.80 and a beta of 1.93.

58.com (NYSE:WUBA) last posted its quarterly earnings data on Wednesday, November 14th. The information services provider reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.20. 58.com had a return on equity of 9.57% and a net margin of 16.13%. The company had revenue of $527.20 million during the quarter, compared to analysts’ expectations of $515.83 million. During the same quarter in the previous year, the business earned $0.49 EPS. 58.com’s revenue was up 28.5% compared to the same quarter last year. As a group, equities analysts expect that 58.com Inc will post 1.84 earnings per share for the current year.

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About 58.com

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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