Vanguard Group Inc. boosted its stake in 58.com Inc. (NYSE:WUBA) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 416,689 shares of the information services provider’s stock after buying an additional 8,967 shares during the period. Vanguard Group Inc. owned approximately 0.29% of 58.com worth $14,747,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WUBA. Quantbot Technologies LP bought a new position in 58.com during the first quarter worth $155,000. Profund Advisors LLC bought a new position in 58.com during the first quarter worth $214,000. Teacher Retirement System of Texas bought a new position in 58.com during the first quarter worth $240,000. World Asset Management Inc bought a new position in 58.com during the first quarter worth $255,000. Finally, Comerica Bank bought a new position in 58.com during the first quarter worth $263,000. 60.15% of the stock is currently owned by hedge funds and other institutional investors.

58.com Inc. (WUBA) traded down 5.39% during mid-day trading on Monday, hitting $63.70. 1,134,079 shares of the company were exchanged. The company has a market capitalization of $9.27 billion, a P/E ratio of 342.47 and a beta of 2.21. 58.com Inc. has a 12-month low of $27.58 and a 12-month high of $68.00. The company’s 50-day moving average is $52.85 and its 200 day moving average is $42.67.

58.com (NYSE:WUBA) last posted its earnings results 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 net margin of 2.14% and a return on equity of 1.04%. The firm had revenue of $382.81 million during the quarter. Analysts expect that 58.com Inc. will post $1.06 EPS for the current year.

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A number of research analysts have recently weighed in on the company. Zacks Investment Research raised 58.com from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Citigroup Inc. raised 58.com from a “neutral” rating to a “buy” rating and increased their price target for the company from $62.00 to $68.00 in a research note on Wednesday, August 23rd. Deutsche Bank AG raised 58.com from a “hold” rating to a “buy” rating and increased their price target for the company from $41.00 to $70.00 in a research note on Tuesday, August 22nd. HSBC Holdings plc raised 58.com from a “hold” rating to a “buy” rating and increased their price target for the company from $45.00 to $69.00 in a research note on Tuesday, August 22nd. Finally, BidaskClub raised 58.com from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $52.45.

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.

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

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