Dimensional Fund Advisors LP Raises Stake in 58.com Inc. (WUBA)
Dimensional Fund Advisors LP raised its position in 58.com Inc. (NYSE:WUBA) by 60.8% during the first quarter, Holdings Channel reports. The fund owned 432,066 shares of the information services provider’s stock after buying an additional 163,301 shares during the period. Dimensional Fund Advisors LP’s holdings in 58.com were worth $15,307,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of WUBA. Quantbot Technologies LP acquired a new stake in shares of 58.com during the first quarter worth $155,000. Profund Advisors LLC acquired a new stake in shares of 58.com during the first quarter worth $214,000. Teacher Retirement System of Texas acquired a new stake in shares of 58.com during the first quarter worth $240,000. World Asset Management Inc acquired a new stake in shares of 58.com during the first quarter worth $255,000. Finally, Comerica Bank acquired a new stake in shares of 58.com during the first quarter worth $263,000. Hedge funds and other institutional investors own 65.05% of the company’s stock.
58.com Inc. (NYSE:WUBA) traded down 0.56% during midday trading on Tuesday, reaching $52.90. 159,551 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $48.82 and its 200 day moving average is $40.78. 58.com Inc. has a 1-year low of $27.58 and a 1-year high of $54.25. The stock’s market cap is $7.69 billion.
58.com (NYSE:WUBA) last issued its quarterly earnings data on Thursday, May 25th. The information services provider reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.27. The firm had revenue of $288.19 million during the quarter. 58.com had a negative net margin of 3.18% and a negative return on equity of 1.57%. Equities analysts anticipate that 58.com Inc. will post $0.85 earnings per share for the current fiscal year.
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WUBA has been the subject of several research analyst reports. BidaskClub downgraded shares of 58.com from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. TH Capital initiated coverage on shares of 58.com in a research report on Wednesday, May 10th. They issued a “buy” rating and a $48.00 price target for the company. Morgan Stanley restated an “equal weight” rating and issued a $42.00 price target on shares of 58.com in a research report on Sunday, May 28th. CLSA upgraded shares of 58.com from an “underperform” rating to an “outperform” rating and upped their price target for the company from $39.00 to $50.00 in a research report on Thursday, May 25th. Finally, Bank of America Corporation upped their price target on shares of 58.com from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, May 30th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. 58.com presently has an average rating of “Hold” and an average price target of $45.91.
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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