BNP Paribas Arbitrage SA Has $11,559,000 Position in 58.com Inc. (WUBA)
BNP Paribas Arbitrage SA increased its stake in shares of 58.com Inc. (NYSE:WUBA) by 24.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 242,526 shares of the company’s stock after buying an additional 47,147 shares during the period. BNP Paribas Arbitrage SA owned about 0.17% of 58.com worth $11,559,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in WUBA. Gulf International Bank UK Ltd boosted its position in 58.com by 134.2% in the second quarter. Gulf International Bank UK Ltd now owns 20,770 shares of the company’s stock worth $953,000 after buying an additional 11,900 shares during the period. Wellington Management Group LLP boosted its position in shares of 58.com by 34.3% in the first quarter. Wellington Management Group LLP now owns 177,931 shares of the company’s stock worth $9,902,000 after buying an additional 45,405 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of 58.com by 7.2% in the first quarter. BlackRock Fund Advisors now owns 494,489 shares of the company’s stock worth $27,518,000 after buying an additional 33,215 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of 58.com by 65.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 186,031 shares of the company’s stock worth $8,537,000 after buying an additional 73,476 shares during the last quarter. Finally, UBS Group AG boosted its position in shares of 58.com by 216.6% in the first quarter. UBS Group AG now owns 19,320 shares of the company’s stock worth $1,075,000 after buying an additional 13,217 shares during the last quarter. 48.70% of the stock is owned by hedge funds and other institutional investors.
Shares of 58.com Inc. (NYSE:WUBA) opened at 31.30 on Friday. The stock’s market cap is $4.53 billion. The firm’s 50-day moving average price is $44.55 and its 200-day moving average price is $48.06. 58.com Inc. has a 52-week low of $31.06 and a 52-week high of $70.27.
58.com (NYSE:WUBA) last posted its quarterly earnings data on Thursday, November 10th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.11) by $0.10. The company earned $306.50 million during the quarter, compared to analysts’ expectations of $308.29 million. 58.com had a negative return on equity of 5.05% and a negative net margin of 9.27%. The company’s revenue for the quarter was up 44.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.50) earnings per share. Equities analysts predict that 58.com Inc. will post ($0.39) EPS for the current year.
A number of equities research analysts have commented on WUBA shares. Zacks Investment Research upgraded 58.com from a “sell” rating to a “hold” rating in a research report on Friday, September 9th. Brean Capital downgraded 58.com from a “buy” rating to a “hold” rating and set a $57.00 price target on the stock. in a research note on Friday, November 11th. Deutsche Bank AG began coverage on 58.com in a research note on Wednesday, October 5th. They set a “buy” rating and a $65.00 price target on the stock. Credit Suisse Group AG downgraded 58.com from an “outperform” rating to a “neutral” rating in a research note on Friday, November 11th. Finally, Credit Agricole SA downgraded 58.com from an “outperform” rating to an “underperform” rating in a research note on Friday, November 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. 58.com presently has a consensus rating of “Hold” and an average price target of $56.83.
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.
Receive News & Stock Ratings for 58.com Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 58.com Inc. and related stocks with our FREE daily email newsletter.