Ameriprise Financial Inc. reduced its holdings in 58.com Inc. (NYSE:WUBA) by 59.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,346 shares of the information services provider’s stock after selling 72,031 shares during the quarter. Ameriprise Financial Inc.’s holdings in 58.com were worth $3,052,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in WUBA. Baillie Gifford & Co. increased its position in 58.com by 258.4% during the 3rd quarter. Baillie Gifford & Co. now owns 4,823,568 shares of the information services provider’s stock valued at $304,561,000 after buying an additional 3,477,536 shares in the last quarter. Dodge & Cox bought a new stake in shares of 58.com in the 2nd quarter worth $65,264,000. General Atlantic LLC increased its holdings in shares of 58.com by 22.4% in the 2nd quarter. General Atlantic LLC now owns 7,150,000 shares of the information services provider’s stock worth $315,387,000 after purchasing an additional 1,310,000 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of 58.com by 78.4% in the 2nd quarter. Franklin Resources Inc. now owns 2,704,340 shares of the information services provider’s stock worth $119,289,000 after purchasing an additional 1,188,300 shares in the last quarter. Finally, GMT Capital Corp increased its holdings in shares of 58.com by 652.2% in the 2nd quarter. GMT Capital Corp now owns 842,500 shares of the information services provider’s stock worth $37,913,000 after purchasing an additional 730,500 shares in the last quarter. Institutional investors and hedge funds own 60.60% of the company’s stock.
Shares of 58.com Inc. (NYSE:WUBA) opened at $83.30 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.06 and a quick ratio of 1.06. 58.com Inc. has a twelve month low of $27.58 and a twelve month high of $85.04. The stock has a market capitalization of $11,900.00, a PE ratio of 108.18 and a beta of 2.15.
A number of research firms have recently issued reports on WUBA. Zacks Investment Research downgraded 58.com from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 16th. BidaskClub downgraded 58.com from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 26th. Finally, TheStreet upgraded 58.com from a “c+” rating to a “b-” rating in a research note on Friday, November 10th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $55.50.
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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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