GAM Holding AG held its position in 58.com Inc. (NYSE:WUBA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,000 shares of the information services provider’s stock at the end of the second quarter. GAM Holding AG’s holdings in 58.com were worth $1,720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in 58.com by 23.1% in the first quarter. FMR LLC now owns 12,046,536 shares of the information services provider’s stock valued at $426,327,000 after buying an additional 2,257,370 shares during the period. General Atlantic LLC boosted its position in 58.com by 86.9% in the first quarter. General Atlantic LLC now owns 5,840,000 shares of the information services provider’s stock valued at $206,678,000 after buying an additional 2,715,000 shares during the period. Platinum Investment Management Ltd. boosted its position in 58.com by 13.6% in the first quarter. Platinum Investment Management Ltd. now owns 5,170,041 shares of the information services provider’s stock valued at $182,967,000 after buying an additional 617,217 shares during the period. FIL Ltd boosted its position in 58.com by 38.1% in the first quarter. FIL Ltd now owns 5,157,531 shares of the information services provider’s stock valued at $182,526,000 after buying an additional 1,422,313 shares during the period. Finally, Coronation Fund Managers Ltd. boosted its position in 58.com by 42.3% in the second quarter. Coronation Fund Managers Ltd. now owns 4,391,885 shares of the information services provider’s stock valued at $193,726,000 after buying an additional 1,304,456 shares during the period. Institutional investors and hedge funds own 60.15% of the company’s stock.

Shares of 58.com Inc. (WUBA) opened at 62.90 on Wednesday. The stock has a 50 day moving average of $52.85 and a 200 day moving average of $42.67. The company has a market cap of $9.16 billion, a price-to-earnings ratio of 338.17 and a beta of 2.21. 58.com Inc. has a 52-week low of $27.58 and a 52-week high of $68.00.

58.com (NYSE:WUBA) last released its quarterly earnings data on Monday, August 21st. The information services provider reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.42. 58.com had a return on equity of 1.04% and a net margin of 2.14%. The business had revenue of $382.81 million for the quarter. On average, equities research analysts expect that 58.com Inc. will post $1.07 EPS for the current year.

TRADEMARK VIOLATION WARNING: This article was published by Watch List News and is owned by of Watch List News. If you are viewing this article on another domain, it was stolen and republished in violation of U.S. and international trademark & copyright law. The original version of this article can be viewed at https://www.watchlistnews.com/58-com-inc-wuba-stake-held-by-gam-holding-ag/1531252.html.

WUBA has been the topic of several analyst reports. TheStreet upgraded shares of 58.com from a “d+” rating to a “c” rating in a report on Thursday, May 11th. Zacks Investment Research cut shares of 58.com from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. Deutsche Bank AG upgraded shares of 58.com from a “hold” rating to a “buy” rating and boosted their price target for the stock from $41.00 to $70.00 in a report on Tuesday, August 22nd. ValuEngine upgraded shares of 58.com from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, BidaskClub cut shares of 58.com from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $52.45.

58.com Company Profile

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.

Want to see what other hedge funds are holding WUBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 58.com Inc. (NYSE:WUBA).

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

Receive News & 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 companies with Analyst Ratings Network's FREE daily email newsletter.