The Manufacturers Life Insurance Company Reduces Position in 58.com (WUBA)

The Manufacturers Life Insurance Company trimmed its stake in shares of 58.com (NYSE:WUBA) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,616 shares of the information services provider’s stock after selling 998 shares during the period. The Manufacturers Life Insurance Company’s holdings in 58.com were worth $1,547,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of WUBA. Nationwide Fund Advisors purchased a new position in shares of 58.com in the third quarter worth about $1,003,000. Candriam Luxembourg S.C.A. purchased a new position in shares of 58.com in the fourth quarter worth about $15,602,000. Allianz Asset Management GmbH purchased a new position in shares of 58.com in the third quarter worth about $1,300,000. Granite Point Capital Management L.P. purchased a new position in shares of 58.com in the third quarter worth about $568,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of 58.com in the third quarter worth about $335,000. 56.64% of the stock is currently owned by institutional investors and hedge funds.

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Several equities analysts have recently weighed in on the stock. TheStreet downgraded shares of 58.com from a “b-” rating to a “c+” rating in a research note on Friday, December 22nd. Bank of America lifted their target price on shares of 58.com from $89.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, March 12th. Benchmark raised shares of 58.com from a “hold” rating to a “buy” rating in a research note on Friday, March 9th. Credit Suisse Group lifted their target price on shares of 58.com to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, March 8th. Finally, Zacks Investment Research raised shares of 58.com from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Sunday, January 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $66.20.

Shares of WUBA traded down $1.19 during trading on Friday, reaching $76.97. 439,363 shares of the company traded hands, compared to its average volume of 1,103,040. 58.com has a twelve month low of $34.84 and a twelve month high of $87.65. The stock has a market cap of $11,276.87, a PE ratio of 57.87 and a beta of 2.03. 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 (NYSE:WUBA) last announced its quarterly earnings results on Wednesday, March 7th. The information services provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.11). 58.com had a net margin of 12.84% and a return on equity of 6.86%. The company had revenue of $423.11 million for the quarter. sell-side analysts expect that 58.com will post 2.07 earnings per share for the current fiscal year.

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58.com Profile

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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