58.com Inc. (NYSE:WUBA) was the target of unusually large options trading activity on Friday. Investors acquired 20,641 call options on the company. This is an increase of approximately 1,411% compared to the average daily volume of 1,366 call options.
Shares of 58.com (WUBA) opened at 65.18 on Wednesday. The company has a market cap of $9.48 billion, a price-to-earnings ratio of 350.43 and a beta of 2.21. The firm has a 50-day moving average of $50.49 and a 200 day moving average of $41.76. 58.com has a 12 month low of $27.58 and a 12 month high of $66.66.
58.com (NYSE:WUBA) last announced its quarterly earnings results on Monday, August 21st. The information services provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.42. The firm had revenue of $382.81 million for the quarter. 58.com had a negative net margin of 3.18% and a negative return on equity of 1.57%. On average, analysts expect that 58.com will post $0.91 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in WUBA. Wells Fargo & Company MN increased its position in 58.com by 0.7% in the second quarter. Wells Fargo & Company MN now owns 14,881 shares of the information services provider’s stock worth $656,000 after buying an additional 100 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in 58.com by 0.4% in the second quarter. Parametric Portfolio Associates LLC now owns 52,492 shares of the information services provider’s stock worth $2,315,000 after buying an additional 188 shares during the last quarter. Teacher Retirement System of Texas increased its position in 58.com by 6.7% in the second quarter. Teacher Retirement System of Texas now owns 7,225 shares of the information services provider’s stock worth $319,000 after buying an additional 453 shares during the last quarter. Aviva PLC increased its position in 58.com by 3.4% in the second quarter. Aviva PLC now owns 15,300 shares of the information services provider’s stock worth $675,000 after buying an additional 500 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in 58.com by 15.8% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,050 shares of the information services provider’s stock worth $355,000 after buying an additional 1,100 shares during the last quarter. 65.05% of the stock is currently owned by hedge funds and other institutional investors.
WUBA has been the subject of a number of research reports. Zacks Investment Research upgraded shares of 58.com from a “hold” rating to a “strong-buy” rating and set a $46.00 price target for the company in a report on Wednesday, May 3rd. Citigroup Inc. initiated coverage on shares of 58.com in a report on Tuesday, August 8th. They issued a “buy” rating and a $62.00 price target for the company. Morgan Stanley restated an “equal weight” rating and issued a $42.00 price target on shares of 58.com in a report on Sunday, May 28th. BidaskClub upgraded shares of 58.com from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Finally, Bank of America Corporation raised their price target on shares of 58.com from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, May 30th. Five analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $49.00.
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About 58.com
58.com Inc is a holding company. The Company’s business consists of its online classifieds and listing platforms. Its online classifieds and listings platforms enable local merchants and consumers to connect, share information and conduct business in China. These platforms include 58, Ganji and Anjuke.
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