Teacher Retirement System of Texas raised its stake in shares of 58.com Inc. (NYSE:WUBA) by 99.9% during the second quarter, Holdings Channel reports. The institutional investor owned 10,920 shares of the company’s stock after buying an additional 5,456 shares during the period. Teacher Retirement System of Texas’ holdings in 58.com were worth $501,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Aperio Group LLC boosted its stake in shares of 58.com by 347.2% in the first quarter. Aperio Group LLC now owns 26,465 shares of the company’s stock valued at $1,473,000 after buying an additional 20,547 shares in the last quarter. Pacad Investment Ltd. acquired a new stake in shares of 58.com during the first quarter valued at about $479,000. BlackRock Inc. boosted its stake in shares of 58.com by 4.1% in the first quarter. BlackRock Inc. now owns 240,969 shares of the company’s stock valued at $13,410,000 after buying an additional 9,405 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of 58.com by 7.2% in the first quarter. BlackRock Fund Advisors now owns 494,489 shares of the company’s stock valued at $27,518,000 after buying an additional 33,215 shares in the last quarter. Finally, BlackRock Japan Co. Ltd boosted its stake in shares of 58.com by 5.5% in the first quarter. BlackRock Japan Co. Ltd now owns 44,485 shares of the company’s stock valued at $2,476,000 after buying an additional 2,322 shares in the last quarter. 48.48% of the stock is owned by institutional investors.
Shares of 58.com Inc. (NYSE:WUBA) traded up 1.47% during trading on Wednesday, hitting $48.22. 149,237 shares of the stock traded hands. 58.com Inc. has a 52-week low of $42.57 and a 52-week high of $70.27. The company’s 50 day moving average is $47.76 and its 200 day moving average is $50.53. The firm’s market cap is $6.95 billion.
58.com (NYSE:WUBA) last announced its quarterly earnings data on Thursday, August 18th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.26. 58.com had a negative net margin of 27.86% and a negative return on equity of 6.59%. The firm earned $297.80 million during the quarter, compared to analysts’ expectations of $303.42 million. On average, equities research analysts predict that 58.com Inc. will post ($0.42) EPS for the current year.
Several research firms have recently weighed in on WUBA. Zacks Investment Research cut shares of 58.com from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 8th. Macquarie began coverage on shares of 58.com in a research note on Friday, July 8th. They issued an “outperform” rating and a $71.00 price target for the company. Finally, Brean Capital reissued a “buy” rating on shares of 58.com in a research note on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. 58.com currently has an average rating of “Hold” and a consensus price target of $60.30.
58.com Inc (58.com) is a holding company. The Company operates an online marketplace serving local merchants and consumers in China. The Company’s online marketplace enables local merchants and consumers to connect, share information and conduct business. The Company’s online marketplace contains local information in approximately 395 cities, across the content categories, including housing, jobs, used goods, automotive, pets, tickets, yellow pages and other local services.
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