Stone Ridge Asset Management LLC Takes $210,000 Position in 58.com Inc (WUBA)

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.

Shares of WUBA stock opened at $67.37 on Tuesday. 58.com Inc has a 52-week low of $50.30 and a 52-week high of $89.90. The firm has a market capitalization of $9.62 billion, a PE ratio of 34.73, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60.

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 Profile

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

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