Caisse DE Depot ET Placement DU Quebec raised its holdings in 58.com Inc (NYSE:WUBA) by 12.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,201 shares of the information services provider’s stock after acquiring an additional 10,400 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.06% of 58.com worth $5,670,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in WUBA. Handelsinvest Investeringsforvaltning lifted its stake in shares of 58.com by 18.6% in the second quarter. Handelsinvest Investeringsforvaltning now owns 19,123 shares of the information services provider’s stock worth $1,189,000 after buying an additional 3,000 shares during the last quarter. TD Asset Management Inc. acquired a new position in 58.com in the 1st quarter valued at $812,000. NN Investment Partners Holdings N.V. grew its position in shares of 58.com by 77.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 6,400 shares of the information services provider’s stock valued at $398,000 after purchasing an additional 2,800 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in 58.com by 30.8% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 19,480 shares of the information services provider’s stock valued at $1,211,000 after acquiring an additional 4,590 shares in the last quarter. Finally, BP PLC bought a new position in 58.com in the second quarter worth $1,082,000. 58.75% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on the company. BOCOM International lowered 58.com from a “buy” rating to a “neutral” rating in a research report on Friday, August 23rd. Credit Suisse Group cut shares of 58.com from an “outperform” rating to a “neutral” rating and set a $57.23 price objective for the company. in a research report on Tuesday, July 16th. Zacks Investment Research cut shares of 58.com from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Jefferies Financial Group started coverage on 58.com in a research note on Monday, August 5th. They set a “buy” rating and a $66.40 price target on the stock. Finally, ValuEngine cut 58.com from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $62.93.
58.com Inc operates various multi-category online classifieds platforms and vertical 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; Anjuke, an online real estate listing platform; ChinaHR, an online recruitment platform that focuses on white collar jobs; and Jia Xiao Yi Dian Tong, an online platform for driver's license examination preparation and other related services.
Read More: How a Back-End Load Mutual Fund Works
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.