500.com Ltd (NYSE:WBAI) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 4,743,641 shares, a drop of 2.1% from the July 14th total of 4,844,141 shares. Approximately 15.9% of the company’s stock are short sold. Based on an average daily volume of 164,993 shares, the short-interest ratio is currently 28.8 days.
A number of hedge funds have recently added to or reduced their stakes in the stock. Guggenheim Capital LLC increased its stake in 500.com by 0.7% in the fourth quarter. Guggenheim Capital LLC now owns 19,860 shares of the company’s stock valued at $304,000 after buying an additional 138 shares during the period. Capital Fund Management S.A. purchased a new stake in 500.com during the second quarter valued at about $142,000. Citadel Advisors LLC purchased a new stake in 500.com during the second quarter valued at about $151,000. PEAK6 Investments L.P. purchased a new stake in 500.com during the first quarter valued at about $268,000. Finally, Dimensional Fund Advisors LP purchased a new stake in 500.com during the fourth quarter valued at about $1,253,000. Institutional investors and hedge funds own 21.75% of the company’s stock.
WBAI has been the topic of a number of analyst reports. BidaskClub lowered shares of 500.com from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. ValuEngine upgraded shares of 500.com from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd.
Shares of 500.com (NYSE WBAI) opened at 10.01 on Friday. The stock’s market cap is $408.08 million. The stock’s 50 day moving average is $10.84 and its 200-day moving average is $11.49. 500.com has a 1-year low of $8.12 and a 1-year high of $19.98.
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500.com Company Profile
500.com Limited is an online sports lottery service provider in China. The Company acts as an aggregator and processor of lottery purchase orders from its registered user accounts and derive substantially all of its revenues from service fees paid to it by provincial sports lottery administration centers for the purchase orders of sports lottery products that it direct to such centers.
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