295,009 Shares in 58.com Inc (WUBA) Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC acquired a new stake in shares of 58.com Inc (NYSE:WUBA) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 295,009 shares of the information services provider’s stock, valued at approximately $21,713,000. William Blair Investment Management LLC owned 0.20% of 58.com at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in WUBA. Standard Life Aberdeen plc raised its holdings in shares of 58.com by 5,147.6% in the 3rd quarter. Standard Life Aberdeen plc now owns 4,211,183 shares of the information services provider’s stock worth $309,943,000 after acquiring an additional 4,130,933 shares during the last quarter. Coronation Fund Managers Ltd. raised its holdings in shares of 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. Genesis Asset Managers LLP raised its holdings in shares of 58.com by 11.7% in the 3rd quarter. Genesis Asset Managers LLP now owns 7,684,938 shares of the information services provider’s stock worth $565,611,000 after acquiring an additional 806,641 shares during the last quarter. Alliancebernstein L.P. acquired a new stake in shares of 58.com in the 3rd quarter worth about $47,270,000. Finally, Marshall Wace LLP raised its holdings in shares of 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. Hedge funds and other institutional investors own 60.23% of the company’s stock.

NYSE:WUBA opened at $61.16 on Tuesday. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 45.98 and a beta of 1.78. 58.com Inc has a 52 week low of $52.14 and a 52 week high of $89.90.

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

A number of research firms recently weighed in on WUBA. ValuEngine upgraded shares of 58.com from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. CLSA restated a “buy” rating on shares of 58.com in a report on Thursday, September 20th. TheStreet upgraded shares of 58.com from a “c” rating to a “b-” rating in a report on Friday, August 17th. Zacks Investment Research lowered shares of 58.com from a “hold” rating to a “sell” rating in a research note on Thursday, November 8th. Finally, Benchmark decreased their price objective 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $88.50.

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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.

See Also: Beta

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

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