Russell Investments Group Ltd. increased its stake in shares of 58.com Inc. (NYSE:WUBA) by 153.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 164,905 shares of the information services provider’s stock after buying an additional 99,905 shares during the quarter. Russell Investments Group Ltd. owned about 0.11% of 58.com worth $10,411,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Baillie Gifford & Co. raised its position in 58.com by 258.4% in the third quarter. Baillie Gifford & Co. now owns 4,823,568 shares of the information services provider’s stock valued at $304,561,000 after purchasing an additional 3,477,536 shares during the period. Dodge & Cox purchased a new stake in 58.com in the second quarter valued at $65,264,000. General Atlantic LLC raised its position in 58.com by 22.4% in the second quarter. General Atlantic LLC now owns 7,150,000 shares of the information services provider’s stock valued at $315,387,000 after purchasing an additional 1,310,000 shares during the period. Franklin Resources Inc. raised its position in 58.com by 78.4% in the second quarter. Franklin Resources Inc. now owns 2,704,340 shares of the information services provider’s stock valued at $119,289,000 after purchasing an additional 1,188,300 shares during the period. Finally, GMT Capital Corp raised its position in 58.com by 652.2% in the second quarter. GMT Capital Corp now owns 842,500 shares of the information services provider’s stock valued at $37,913,000 after purchasing an additional 730,500 shares during the period. Hedge funds and other institutional investors own 60.92% of the company’s stock.
58.com Inc. (WUBA) traded down $5.43 during mid-day trading on Tuesday, hitting $66.98. The company had a trading volume of 1,465,400 shares, compared to its average volume of 1,312,794. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market cap of $10,608.79, a P/E ratio of 97.85 and a beta of 2.15. 58.com Inc. has a 52-week low of $27.58 and a 52-week high of $79.79.
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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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