Scge Management L.P. held its stake in 58.com Inc. (NYSE:WUBA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 340,000 shares of the information services provider’s stock at the close of the second quarter. 58.com accounts for 3.8% of Scge Management L.P.’s portfolio, making the stock its 12th biggest position. Scge Management L.P. owned approximately 0.23% of 58.com worth $14,997,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Macquarie Group Ltd. raised its stake in 58.com by 4.9% during the second quarter. Macquarie Group Ltd. now owns 99,731 shares of the information services provider’s stock worth $4,399,000 after buying an additional 4,700 shares during the last quarter. GMT Capital Corp raised its stake in 58.com by 652.2% during the second quarter. GMT Capital Corp now owns 842,500 shares of the information services provider’s stock worth $37,913,000 after buying an additional 730,500 shares during the last quarter. Voya Investment Management LLC raised its stake in 58.com by 16.5% during the second quarter. Voya Investment Management LLC now owns 12,543 shares of the information services provider’s stock worth $553,000 after buying an additional 1,775 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in 58.com by 2.3% during the second quarter. Dimensional Fund Advisors LP now owns 442,027 shares of the information services provider’s stock worth $19,506,000 after buying an additional 9,961 shares during the last quarter. Finally, General Atlantic LLC raised its stake in 58.com by 22.4% during the second quarter. General Atlantic LLC now owns 7,150,000 shares of the information services provider’s stock worth $315,387,000 after buying an additional 1,310,000 shares during the last quarter. Institutional investors own 60.03% of the company’s stock.

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A number of equities analysts recently weighed in on the stock. BidaskClub downgraded shares of 58.com from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Citigroup Inc. raised shares of 58.com from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $62.00 to $68.00 in a research note on Wednesday, August 23rd. Zacks Investment Research downgraded shares of 58.com from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 16th. HSBC Holdings plc raised shares of 58.com from a “hold” rating to a “buy” rating and lifted their target price for the stock from $45.00 to $69.00 in a research note on Tuesday, August 22nd. Finally, Morgan Stanley downgraded shares of 58.com from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $42.00 to $40.00 in a research note on Friday, June 30th. Four analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $55.27.

58.com Inc. (NYSE:WUBA) traded up 0.176% during midday trading on Thursday, hitting $65.465. 522,950 shares of the stock traded hands. The stock has a market capitalization of $9.53 billion, a P/E ratio of 344.553 and a beta of 2.15. 58.com Inc. has a 52 week low of $27.58 and a 52 week high of $68.85. The stock’s 50-day moving average price is $63.83 and its 200-day moving average price is $48.49.

58.com (NYSE:WUBA) last issued its quarterly earnings results on Monday, August 21st. The information services provider reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.42. The company had revenue of $382.81 million during the quarter. 58.com had a net margin of 2.14% and a return on equity of 1.04%. Equities research analysts expect that 58.com Inc. will post $1.18 EPS for the current fiscal year.

About 58.com

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.

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

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