58.com Inc (NYSE:WUBA) was the recipient of some unusual options trading activity on Wednesday. Traders purchased 40,520 call options on the company. This is an increase of 1,629% compared to the average daily volume of 2,343 call options.

A number of analysts have recently weighed in on the stock. TH Capital assumed coverage on shares of 58.com in a research note on Wednesday, May 10th. They issued a “buy” rating and a $48.00 price target for the company. T.H. Capital assumed coverage on shares of 58.com in a research note on Wednesday, May 10th. They issued a “buy” rating and a $48.00 price target for the company. TheStreet raised shares of 58.com from a “d+” rating to a “c” rating in a research note on Thursday, May 11th. Benchmark Co. assumed coverage on shares of 58.com in a research note on Tuesday, April 18th. They issued a “hold” rating for the company. Finally, Zacks Investment Research raised shares of 58.com from a “sell” rating to a “hold” rating in a research note on Saturday, February 18th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $46.63.

Shares of 58.com (NYSE:WUBA) opened at 42.12 on Friday. The company has a 50 day moving average of $39.30 and a 200-day moving average of $34.58. 58.com has a 12-month low of $27.58 and a 12-month high of $55.28. The company’s market capitalization is $6.12 billion.

A number of large investors have recently modified their holdings of the company. Quantbot Technologies LP bought a new stake in shares of 58.com during the first quarter worth approximately $155,000. Profund Advisors LLC bought a new stake in shares of 58.com during the first quarter worth approximately $214,000. Teacher Retirement System of Texas bought a new stake in shares of 58.com during the first quarter worth approximately $240,000. World Asset Management Inc bought a new stake in shares of 58.com during the first quarter worth approximately $255,000. Finally, Comerica Bank bought a new stake in shares of 58.com during the first quarter worth approximately $263,000. 55.74% of the stock is currently owned by hedge funds and other institutional investors.

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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.

12 Month Chart for NYSE:WUBA

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