Korea Investment CORP boosted its position in shares of 58.com Inc. (NYSE:WUBA) by 94.4% during the second quarter, Holdings Channel reports. The firm owned 110,600 shares of the information services provider’s stock after buying an additional 53,700 shares during the period. Korea Investment CORP’s holdings in 58.com were worth $4,879,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in WUBA. Quantbot Technologies LP purchased a new position in 58.com during the first quarter worth approximately $155,000. Profund Advisors LLC purchased a new position in 58.com during the first quarter worth approximately $214,000. Teacher Retirement System of Texas purchased a new position in 58.com during the first quarter worth approximately $240,000. World Asset Management Inc purchased a new position in 58.com during the first quarter worth approximately $255,000. Finally, Comerica Bank purchased a new position in 58.com during the first quarter worth approximately $263,000. Institutional investors own 66.43% of the company’s stock.

Shares of 58.com Inc. (WUBA) opened at 52.14 on Friday. The company’s market capitalization is $7.58 billion. 58.com Inc. has a 12 month low of $27.58 and a 12 month high of $55.09. The firm’s 50-day moving average is $48.53 and its 200 day moving average is $40.45.

58.com (NYSE:WUBA) last posted its quarterly earnings results on Thursday, May 25th. The information services provider reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.27. 58.com had a negative return on equity of 1.57% and a negative net margin of 3.18%. The business had revenue of $288.19 million during the quarter. Equities analysts expect that 58.com Inc. will post $0.85 EPS for the current year.

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A number of equities analysts have recently commented on WUBA shares. BidaskClub upgraded shares of 58.com from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. TH Capital started coverage on shares of 58.com in a research report on Wednesday, May 10th. They issued a “buy” rating and a $48.00 price objective for the company. T.H. Capital started coverage on shares of 58.com in a research report on Wednesday, May 10th. They issued a “buy” rating and a $48.00 price objective for the company. Citigroup Inc. started coverage on shares of 58.com in a research report on Tuesday. They issued a “buy” rating and a $62.00 price objective for the company. Finally, TheStreet upgraded shares of 58.com from a “d+” rating to a “c” rating in a research report on Thursday, May 11th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $45.91.

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.

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

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