Paloma Partners Management Co Boosts Position in 58.com (WUBA)

Paloma Partners Management Co raised its position in 58.com (NYSE:WUBA) by 40.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,479 shares of the information services provider’s stock after purchasing an additional 6,446 shares during the quarter. Paloma Partners Management Co’s holdings in 58.com were worth $1,609,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in 58.com by 8.2% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,681 shares of the information services provider’s stock valued at $742,000 after purchasing an additional 731 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of 58.com by 0.7% during the third quarter. Asset Management One Co. Ltd. now owns 130,738 shares of the information services provider’s stock worth $8,247,000 after buying an additional 900 shares in the last quarter. State of Wisconsin Investment Board increased its holdings in shares of 58.com by 1.3% during the third quarter. State of Wisconsin Investment Board now owns 76,427 shares of the information services provider’s stock worth $4,826,000 after buying an additional 996 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of 58.com by 6.7% during the third quarter. Wells Fargo & Company MN now owns 15,881 shares of the information services provider’s stock worth $1,002,000 after buying an additional 1,000 shares in the last quarter. Finally, Invictus RG increased its holdings in shares of 58.com by 42.0% during the fourth quarter. Invictus RG now owns 3,754 shares of the information services provider’s stock worth $269,000 after buying an additional 1,110 shares in the last quarter. 56.64% of the stock is currently owned by institutional investors and hedge funds.

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WUBA has been the topic of a number of research analyst reports. Bank of America upped their price target on shares of 58.com from $89.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, March 12th. Benchmark raised shares of 58.com from a “hold” rating to a “buy” rating in a research report on Friday, March 9th. Credit Suisse Group increased their price objective on shares of 58.com to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, March 8th. Zacks Investment Research upgraded shares of 58.com from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Wednesday, March 7th. Finally, TheStreet lowered shares of 58.com from a “b-” rating to a “c+” rating in a research note on Friday, December 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $66.20.

NYSE:WUBA traded down $1.19 during trading hours on Friday, hitting $76.97. The stock had a trading volume of 439,363 shares, compared to its average volume of 1,103,040. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.14 and a quick ratio of 1.06. 58.com has a one year low of $34.84 and a one year high of $87.65. The company has a market cap of $11,451.22, a price-to-earnings ratio of 57.87 and a beta of 2.03.

58.com (NYSE:WUBA) last posted its quarterly earnings data on Wednesday, March 7th. The information services provider reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.11). The company had revenue of $423.11 million for the quarter. 58.com had a net margin of 12.84% and a return on equity of 6.86%. equities research analysts expect that 58.com will post 2.07 EPS for the current fiscal year.

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About 58.com

58.com Inc operates online classifieds and listing platforms that enable local merchants and consumers to connect, share information, and conduct business in China. It primarily operates online multi-content category-classified advertising platforms under the 58 and Ganji names; and Anjuke, an online real estate listing platform.

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

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