Cubist Systematic Strategies LLC Has $1.99 Million Stake in 58.com Inc. (WUBA)

Cubist Systematic Strategies LLC grew its position in 58.com Inc. (NYSE:WUBA) by 414.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,201 shares of the information services provider’s stock after purchasing an additional 36,411 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in 58.com were worth $1,994,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of WUBA. Wells Fargo & Company MN boosted its stake in shares of 58.com by 6.5% in the 1st quarter. Wells Fargo & Company MN now owns 14,781 shares of the information services provider’s stock valued at $523,000 after purchasing an additional 900 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of 58.com by 37.3% in the 1st quarter. First Trust Advisors LP now owns 38,988 shares of the information services provider’s stock valued at $1,380,000 after purchasing an additional 10,599 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 58.com by 11.5% in the 1st quarter. Bank of New York Mellon Corp now owns 107,091 shares of the information services provider’s stock valued at $3,790,000 after purchasing an additional 11,041 shares during the last quarter. Comerica Bank bought a new stake in shares of 58.com in the 1st quarter valued at $263,000. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of 58.com by 7.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 360,062 shares of the information services provider’s stock valued at $12,743,000 after purchasing an additional 26,500 shares during the last quarter. 60.03% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently commented on WUBA shares. Citigroup Inc. raised shares of 58.com from a “neutral” rating to a “buy” rating and upped their price objective for the company from $62.00 to $68.00 in a research note on Wednesday, August 23rd. Deutsche Bank AG raised shares of 58.com from a “hold” rating to a “buy” rating and upped their price objective for the company from $41.00 to $70.00 in a research note on Tuesday, August 22nd. HSBC Holdings plc raised shares of 58.com from a “hold” rating to a “buy” rating and upped their price objective for the company from $45.00 to $69.00 in a research note on Tuesday, August 22nd. BidaskClub raised shares of 58.com from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Finally, Zacks Investment Research raised shares of 58.com from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $55.27.

ILLEGAL ACTIVITY WARNING: “Cubist Systematic Strategies LLC Has $1.99 Million Stake in 58.com Inc. (WUBA)” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another domain, it was illegally stolen and republished in violation of US and international copyright legislation. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/10/cubist-systematic-strategies-llc-has-1-99-million-stake-in-58-com-inc-wuba.html.

Shares of 58.com Inc. (NYSE:WUBA) traded up 0.03% on Tuesday, reaching $64.53. 724,981 shares of the company traded hands. The stock has a market capitalization of $9.39 billion, a P/E ratio of 339.63 and a beta of 2.15. 58.com Inc. has a one year low of $27.58 and a one year high of $68.85. The stock’s 50 day moving average price is $64.75 and its 200-day moving average price is $49.16.

58.com (NYSE:WUBA) last announced its earnings results on Monday, August 21st. The information services provider reported $0.54 EPS for the quar

Several other large investors have also recently bought and sold shares of WUBA. Wells Fargo & Company MN boosted its stake in shares of 58.com by 6.5% in the 1st quarter. Wells Fargo & Company MN now owns 14,781 shares of the information services provider’s stock valued at $523,000 after purchasing an additional 900 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of 58.com by 37.3% in the 1st quarter. First Trust Advisors LP now owns 38,988 shares of the information services provider’s stock valued at $1,380,000 after purchasing an additional 10,599 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 58.com by 11.5% in the 1st quarter. Bank of New York Mellon Corp now owns 107,091 shares of the information services provider’s stock valued at $3,790,000 after purchasing an additional 11,041 shares during the last quarter. Comerica Bank bought a new stake in shares of 58.com in the 1st quarter valued at $263,000. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of 58.com by 7.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 360,062 shares of the information services provider’s stock valued at $12,743,000 after purchasing an additional 26,500 shares during the last quarter. 60.03% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently commented on WUBA shares. Citigroup Inc. raised shares of 58.com from a “neutral” rating to a “buy” rating and upped their price objective for the company from $62.00 to $68.00 in a research note on Wednesday, August 23rd. Deutsche Bank AG raised shares of 58.com from a “hold” rating to a “buy” rating and upped their price objective for the company from $41.00 to $70.00 in a research note on Tuesday, August 22nd. HSBC Holdings plc raised shares of 58.com from a “hold” rating to a “buy” rating and upped their price objective for the company from $45.00 to $69.00 in a research note on Tuesday, August 22nd. BidaskClub raised shares of 58.com from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Finally, Zacks Investment Research raised shares of 58.com from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $55.27.

ILLEGAL ACTIVITY WARNING: “Cubist Systematic Strategies LLC Has $1.99 Million Stake in 58.com Inc. (WUBA)” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another domain, it was illegally stolen and republished in violation of US and international copyright legislation. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/10/cubist-systematic-strategies-llc-has-1-99-million-stake-in-58-com-inc-wuba.html.

Shares of 58.com Inc. (NYSE:WUBA) traded up 0.03% on Tuesday, reaching $64.53. 724,981 shares of the company traded hands. The stock has a market capitalization of $9.39 billion, a P/E ratio of 339.63 and a beta of 2.15. 58.com Inc. has a one year low of $27.58 and a one year high of $68.85. The stock’s 50 day moving average price is $64.75 and its 200-day moving average price is $49.16.

58.com (NYSE:WUBA) last announced its earnings results on Monday, August 21st. The information services provider reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.42. 58.com had a net margin of 2.14% and a return on equity of 1.04%. The firm had revenue of $382.81 million for the quarter. Equities analysts forecast that 58.com Inc. will post $1.19 earnings per share 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.

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 MarketBeat.com's FREE daily email newsletter.

Leave a Reply