Penserra Capital Management LLC Has $10.99 Million Holdings in 58.com Inc (WUBA)

Penserra Capital Management LLC lowered its stake in 58.com Inc (NYSE:WUBA) by 10.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,338 shares of the information services provider’s stock after selling 18,018 shares during the quarter. Penserra Capital Management LLC owned approximately 0.10% of 58.com worth $10,991,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of WUBA. The Manufacturers Life Insurance Company boosted its position in shares of 58.com by 6.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 22,946 shares of the information services provider’s stock valued at $1,833,000 after acquiring an additional 1,330 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of 58.com by 230.7% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,531 shares of the information services provider’s stock valued at $122,000 after acquiring an additional 1,068 shares during the last quarter. Royal Bank of Canada boosted its position in shares of 58.com by 54.0% during the 1st quarter. Royal Bank of Canada now owns 4,991 shares of the information services provider’s stock valued at $398,000 after acquiring an additional 1,751 shares during the last quarter. Genesis Asset Managers LLP bought a new stake in shares of 58.com during the 2nd quarter valued at about $476,941,000. Finally, Atria Investments LLC bought a new stake in shares of 58.com during the 2nd quarter valued at about $232,000. Hedge funds and other institutional investors own 60.26% of the company’s stock.

A number of brokerages have recently issued reports on WUBA. ValuEngine upgraded 58.com from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. CLSA reiterated a “buy” rating on shares of 58.com in a research report on Thursday, September 20th. TheStreet upgraded 58.com from a “c” rating to a “b-” rating in a research report on Friday, August 17th. Finally, Zacks Investment Research upgraded 58.com from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $89.67.

NYSE:WUBA opened at $65.06 on Friday. The company has a market capitalization of $9.74 billion, a P/E ratio of 48.92 and a beta of 1.93. 58.com Inc has a 1-year low of $56.70 and a 1-year high of $89.90.

58.com (NYSE:WUBA) last released its earnings results on Wednesday, August 15th. The information services provider reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.26. The company had revenue of $518.47 million during the quarter, compared to the consensus estimate of $485.03 million. 58.com had a return on equity of 8.07% and a net margin of 14.21%. 58.com’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. On average, analysts expect that 58.com Inc will post 1.84 earnings per share for the current fiscal year.

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About 58.com

58.com Inc operates online classifieds and 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; and Anjuke, an online real estate listing platform.

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

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