Banque Pictet & Cie SA acquired a new position in shares of 58.com Inc (NYSE:WUBA) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,180 shares of the information services provider’s stock, valued at approximately $260,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. purchased a new stake in shares of 58.com during the second quarter worth $58,000. Quadrant Capital Group LLC grew its position in shares of 58.com by 61.1% in the first quarter. Quadrant Capital Group LLC now owns 1,923 shares of the information services provider’s stock valued at $124,000 after purchasing an additional 729 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in 58.com by 10.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 3,833 shares of the information services provider’s stock worth $2,325,000 after buying an additional 375 shares in the last quarter. Pictet & Cie Europe SA acquired a new stake in 58.com during the first quarter worth about $263,000. Finally, Highstreet Asset Management Inc. acquired a new stake in 58.com during the first quarter worth about $372,000. 58.75% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on WUBA. Credit Suisse Group downgraded 58.com from an “outperform” rating to a “neutral” rating and set a $57.23 target price on the stock. in a research report on Tuesday, July 16th. BOCOM International downgraded 58.com from a “buy” rating to a “neutral” rating in a report on Friday, August 23rd. ValuEngine downgraded 58.com from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 4th. Zacks Investment Research cut shares of 58.com from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Finally, Jefferies Financial Group began coverage on shares of 58.com in a research note on Monday, August 5th. They issued a “buy” rating and a $66.40 target price for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $62.93.
Shares of 58.com stock opened at $57.97 on Thursday. 58.com Inc has a 52 week low of $49.93 and a 52 week high of $77.13. The stock 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. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a fifty day moving average of $54.19 and a two-hundred day moving average of $61.16.
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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