Baillie Gifford & Co. Increases Holdings in 58.com Inc (WUBA)

Baillie Gifford & Co. raised its holdings in shares of 58.com Inc (NYSE:WUBA) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,768,936 shares of the information services provider’s stock after buying an additional 25,060 shares during the period. Baillie Gifford & Co. owned about 3.26% of 58.com worth $350,993,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. American International Group Inc. bought a new position in shares of 58.com in the third quarter worth approximately $118,000. Quantbot Technologies LP bought a new position in shares of 58.com in the third quarter worth approximately $153,000. Redpoint Investment Management Pty Ltd bought a new position in shares of 58.com in the third quarter worth approximately $207,000. Atlas Capital Advisors LLC bought a new position in shares of 58.com in the second quarter worth approximately $205,000. Finally, Hikari Power Ltd bought a new position in shares of 58.com in the second quarter worth approximately $225,000. 62.27% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:WUBA opened at $57.24 on Friday. 58.com Inc has a fifty-two week low of $52.14 and a fifty-two week high of $89.90. The firm has a market cap of $8.37 billion, a P/E ratio of 43.04 and a beta of 1.93.

58.com (NYSE:WUBA) last issued its earnings results on Wednesday, November 14th. The information services provider reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.20. 58.com had a net margin of 16.13% and a return on equity of 9.57%. The firm had revenue of $527.20 million during the quarter, compared to analyst estimates of $515.83 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. 58.com’s revenue for the quarter was up 28.5% on a year-over-year basis. On average, analysts expect that 58.com Inc will post 1.84 EPS for the current year.

A number of equities analysts have weighed in on the stock. ValuEngine lowered shares of 58.com from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. Zacks Investment Research lowered shares of 58.com from a “hold” rating to a “sell” rating in a research report on Thursday, November 8th. Benchmark dropped their price target on shares of 58.com from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, November 16th. CLSA restated a “buy” rating on shares of 58.com in a research report on Thursday, September 20th. Finally, TheStreet upgraded shares of 58.com from a “c” rating to a “b-” rating in a research report on Friday, August 17th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $88.50.

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58.com Profile

58.com Inc operates online classifieds and listing platforms that enable local businesses and consumers to connect, share information, and conduct business in the People's Republic of China. It operates multi-content category online classified platforms primarily under the 58 and Ganji names; and Anjuke, an online real estate listing platform.

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

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