Wetherby Asset Management Inc. Boosts Stake in 58.com Inc (NYSE:WUBA)

Wetherby Asset Management Inc. raised its holdings in shares of 58.com Inc (NYSE:WUBA) by 6.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,185 shares of the information services provider’s stock after purchasing an additional 405 shares during the quarter. Wetherby Asset Management Inc.’s holdings in 58.com were worth $472,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Genesis Asset Managers LLP grew its holdings in 58.com by 3.6% in the first quarter. Genesis Asset Managers LLP now owns 7,848,843 shares of the information services provider’s stock valued at $515,512,000 after purchasing an additional 272,316 shares during the period. BlackRock Inc. boosted its stake in shares of 58.com by 4.9% in the fourth quarter. BlackRock Inc. now owns 5,133,804 shares of the information services provider’s stock worth $278,304,000 after acquiring an additional 240,196 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of 58.com by 0.7% in the fourth quarter. Baillie Gifford & Co. now owns 4,802,970 shares of the information services provider’s stock worth $260,369,000 after acquiring an additional 34,034 shares during the last quarter. Standard Life Aberdeen plc boosted its stake in shares of 58.com by 5.1% in the fourth quarter. Standard Life Aberdeen plc now owns 4,424,275 shares of the information services provider’s stock worth $238,933,000 after acquiring an additional 213,092 shares during the last quarter. Finally, Coronation Fund Managers Ltd. boosted its stake in shares of 58.com by 3.2% in the first quarter. Coronation Fund Managers Ltd. now owns 4,321,958 shares of the information services provider’s stock worth $283,866,000 after acquiring an additional 133,319 shares during the last quarter. Institutional investors and hedge funds own 59.90% of the company’s stock.

NYSE:WUBA opened at $61.23 on Wednesday. 58.com Inc has a 52 week low of $50.30 and a 52 week high of $82.30. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 1.04 and a beta of 1.72.

58.com (NYSE:WUBA) last posted its earnings results on Tuesday, May 28th. The information services provider reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.12. 58.com had a return on equity of 11.48% and a net margin of 18.44%. The company had revenue of $438.30 million for the quarter, compared to the consensus estimate of $434.43 million. During the same quarter in the previous year, the business earned $0.33 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, research analysts predict that 58.com Inc will post 2.51 EPS for the current fiscal year.

WUBA has been the topic of a number of research analyst reports. Benchmark reaffirmed a “buy” rating and issued a $83.00 price target (down from $85.00) on shares of 58.com in a research note on Monday, March 4th. Credit Suisse Group set a $84.00 price target on 58.com and gave the stock a “buy” rating in a research note on Friday, March 1st. Zacks Investment Research upgraded 58.com from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 4th. Deutsche Bank began coverage on 58.com in a research report on Wednesday, March 27th. They set a “hold” rating on the stock. Finally, Macquarie downgraded 58.com from an “outperform” rating to a “neutral” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $68.75.

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58.com Profile

58.com Inc operates various multi-category online classifieds platforms and vertical 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; Anjuke, an online real estate listing platform; ChinaHR, an online recruitment platform that focuses on white collar jobs; and Jia Xiao Yi Dian Tong, an online platform for driver's license examination preparation and other related services.

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

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