Sumitomo Mitsui Trust Holdings Inc. raised its position in 58.com Inc (NYSE:WUBA) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 313,710 shares of the information services provider’s stock after purchasing an additional 1,447 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in 58.com were worth $15,469,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Genesis Investment Management LLP bought a new position in 58.com in the 3rd quarter valued at $397,047,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its holdings in 58.com by 609.1% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 7,800 shares of the information services provider’s stock valued at $380,000 after purchasing an additional 6,700 shares during the period. Maple Brown Abbott Ltd boosted its holdings in 58.com by 11.9% in the 3rd quarter. Maple Brown Abbott Ltd now owns 373,370 shares of the information services provider’s stock valued at $18,411,000 after purchasing an additional 39,725 shares during the period. Great West Life Assurance Co. Can boosted its holdings in 58.com by 16.4% in the 3rd quarter. Great West Life Assurance Co. Can now owns 85,300 shares of the information services provider’s stock valued at $4,205,000 after purchasing an additional 12,000 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in 58.com by 10.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 7,422 shares of the information services provider’s stock valued at $366,000 after purchasing an additional 681 shares during the period. 57.69% of the stock is owned by hedge funds and other institutional investors.

NYSE WUBA opened at $55.25 on Friday. 58.com Inc has a 52-week low of $47.19 and a 52-week high of $74.17. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market capitalization of $8.36 billion, a P/E ratio of 28.48, a P/E/G ratio of 0.46 and a beta of 1.68. The company has a fifty day moving average of $51.41 and a 200-day moving average of $57.15.

58.com (NYSE:WUBA) last posted its quarterly earnings data on Wednesday, August 21st. The information services provider reported $4.04 earnings per share (EPS) for the quarter. 58.com had a net margin of 41.67% and a return on equity of 25.35%. The company had revenue of $601.44 million during the quarter. As a group, analysts forecast that 58.com Inc will post 5.84 EPS for the current fiscal year.

Several brokerages have commented on WUBA. TheStreet downgraded shares of 58.com from a “b-” rating to a “c+” rating in a report on Friday, October 18th. ValuEngine downgraded shares of 58.com from a “hold” rating to a “sell” rating in a report on Tuesday, October 8th. Credit Suisse Group downgraded shares of 58.com from an “outperform” rating to a “neutral” rating and set a $57.23 price target for the company. in a report on Tuesday, July 16th. BOCOM International downgraded shares of 58.com from a “buy” rating to a “neutral” rating in a report on Friday, August 23rd. Finally, Zacks Investment Research downgraded shares of 58.com from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. 58.com presently has a consensus rating of “Hold” and an average price target of $62.93.

58.com Company Profile

58.com Inc operates various multi-category online classifieds platforms and vertical listing platforms that enable local businesses and consumers to connect, share information, and conduct business in the People's Republic of China. It operates multi-content category online classified platforms primarily under the 58 and Ganji names; Anjuke, an online real estate listing platform; ChinaHR, an online recruitment platform that focuses on white collar jobs; and Jia Xiao Yi Dian Tong, an online platform for driver's license examination preparation and other related services.

Further Reading: 52-Week High/Low

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

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