58.com Inc. (WUBA) Position Cut by Ameriprise Financial Inc.

Ameriprise Financial Inc. cut its stake in 58.com Inc. (NYSE:WUBA) by 59.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,346 shares of the information services provider’s stock after selling 72,031 shares during the period. Ameriprise Financial Inc.’s holdings in 58.com were worth $3,052,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of WUBA. Northern Trust Corp raised its holdings in shares of 58.com by 10.9% during the second quarter. Northern Trust Corp now owns 533,186 shares of the information services provider’s stock worth $23,518,000 after purchasing an additional 52,310 shares during the period. General Atlantic LLC raised its holdings in shares of 58.com by 22.4% during the second quarter. General Atlantic LLC now owns 7,150,000 shares of the information services provider’s stock worth $315,387,000 after purchasing an additional 1,310,000 shares during the period. FMR LLC raised its holdings in shares of 58.com by 0.4% during the second quarter. FMR LLC now owns 12,096,506 shares of the information services provider’s stock worth $533,576,000 after purchasing an additional 49,970 shares during the period. Franklin Resources Inc. raised its holdings in shares of 58.com by 78.4% during the second quarter. Franklin Resources Inc. now owns 2,704,340 shares of the information services provider’s stock worth $119,289,000 after purchasing an additional 1,188,300 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of 58.com by 7.3% during the second quarter. BlackRock Inc. now owns 4,299,458 shares of the information services provider’s stock worth $189,648,000 after purchasing an additional 291,891 shares during the period. 60.60% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on WUBA. TheStreet cut shares of 58.com from a “b-” rating to a “c+” rating in a report on Friday, December 22nd. Zacks Investment Research raised shares of 58.com from a “hold” rating to a “strong-buy” rating and set a $77.00 target price on the stock in a report on Tuesday, September 19th. Finally, BidaskClub cut shares of 58.com from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $55.50.

58.com Inc. (WUBA) opened at $76.61 on Thursday. The company has a market cap of $11,150.00, a PE ratio of 99.49 and a beta of 2.15. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.05. 58.com Inc. has a 12-month low of $27.58 and a 12-month high of $79.79.

WARNING: This report was originally posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this report on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The original version of this report can be viewed at https://www.chaffeybreeze.com/2018/01/04/58-com-inc-wuba-position-cut-by-ameriprise-financial-inc.html.

58.com Profile

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.

Want to see what other hedge funds are holding WUBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 58.com Inc. (NYSE:WUBA).

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

Receive News & Ratings for 58.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 58.com and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply