Allianz Asset Management GmbH reduced its holdings in 58.com Inc (NYSE:WUBA) by 3.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,681 shares of the information services provider’s stock after selling 490 shares during the quarter. Allianz Asset Management GmbH’s holdings in 58.com were worth $851,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Handelsinvest Investeringsforvaltning boosted its holdings in shares of 58.com by 18.6% in the 2nd quarter. Handelsinvest Investeringsforvaltning now owns 19,123 shares of the information services provider’s stock valued at $1,189,000 after purchasing an additional 3,000 shares during the last quarter. TD Asset Management Inc. purchased a new position in shares of 58.com in the 1st quarter worth $812,000. NN Investment Partners Holdings N.V. raised its position in shares of 58.com by 77.8% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 6,400 shares of the information services provider’s stock worth $398,000 after buying an additional 2,800 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in 58.com by 30.8% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 19,480 shares of the information services provider’s stock valued at $1,211,000 after acquiring an additional 4,590 shares during the last quarter. Finally, BP PLC acquired a new position in 58.com in the second quarter valued at $1,082,000. Hedge funds and other institutional investors own 58.75% of the company’s stock.
WUBA has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on 58.com in a research note on Monday, August 5th. They set a “buy” rating and a $66.40 price target for the company. ValuEngine cut 58.com from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 4th. Credit Suisse Group cut 58.com from an “outperform” rating to a “neutral” rating and set a $57.23 target price for the company. in a report on Tuesday, July 16th. BOCOM International downgraded shares of 58.com from a “buy” rating to a “neutral” rating in a research report on Friday, August 23rd. Finally, Zacks Investment Research lowered shares of 58.com from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. 58.com presently has an average rating of “Hold” and an average price target of $62.93.
NYSE:WUBA opened at $57.97 on Thursday. The firm’s fifty day simple moving average is $54.19 and its 200 day simple moving average is $61.16. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.01. 58.com Inc has a twelve month low of $49.93 and a twelve month high of $77.13. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 0.45 and a beta of 1.72.
58.com Inc operates various multi-category online classifieds platforms and vertical 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; Anjuke, an online real estate listing platform; ChinaHR, an online recruitment platform that focuses on white collar jobs; and Jia Xiao Yi Dian Tong, an online platform for driver's license examination preparation and other related services.
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