Stone Ridge Asset Management LLC acquired a new position in shares of 58.com Inc (NYSE:WUBA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,875 shares of the information services provider’s stock, valued at approximately $210,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC raised its stake in 58.com by 433.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,194 shares of the information services provider’s stock valued at $64,000 after purchasing an additional 970 shares during the last quarter. American International Group Inc. acquired a new position in 58.com during the 3rd quarter valued at $118,000. Quantbot Technologies LP acquired a new position in 58.com during the 3rd quarter valued at $153,000. Panagora Asset Management Inc. raised its stake in 58.com by 107.1% during the 3rd quarter. Panagora Asset Management Inc. now owns 3,934 shares of the information services provider’s stock valued at $290,000 after purchasing an additional 2,034 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in 58.com during the 4th quarter valued at $239,000. 59.86% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently commented on WUBA shares. Credit Suisse Group set a $84.00 target price on shares of 58.com and gave the company a “buy” rating in a research note on Friday, March 1st. ValuEngine cut shares of 58.com from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Benchmark reiterated a “buy” rating and set a $83.00 target price (down from $85.00) on shares of 58.com in a research note on Monday, March 4th. Zacks Investment Research cut shares of 58.com from a “buy” rating to a “hold” rating in a research note on Saturday, December 22nd. Finally, Morgan Stanley cut shares of 58.com to a “sell” rating and set a $40.00 target price for the company. in a research note on Thursday, December 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. 58.com currently has a consensus rating of “Hold” and a consensus price target of $69.00.
58.com (NYSE:WUBA) last announced its quarterly earnings data on Friday, March 1st. The information services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. 58.com had a net margin of 15.11% and a return on equity of 9.30%. The company had revenue of $525.89 million during the quarter, compared to analysts’ expectations of $519.09 million. During the same quarter in the prior year, the company posted $0.57 EPS. The business’s revenue was up 24.3% on a year-over-year basis. Sell-side analysts forecast that 58.com Inc will post 2.12 earnings per share for the current year.
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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.
Further Reading: Understanding Compound Annual Growth Rate (CAGR)
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