Allianz Asset Management GmbH Invests $1.30 Million in 58.com Inc. (WUBA) Stock

Allianz Asset Management GmbH purchased a new position in 58.com Inc. (NYSE:WUBA) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 20,600 shares of the information services provider’s stock, valued at approximately $1,300,000.

A number of other hedge funds and other institutional investors have also modified their holdings of WUBA. Northern Trust Corp increased its position 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 valued at $23,518,000 after purchasing an additional 52,310 shares during the period. General Atlantic LLC increased its position 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 valued at $315,387,000 after purchasing an additional 1,310,000 shares during the period. FMR LLC increased its position 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 valued at $533,576,000 after purchasing an additional 49,970 shares during the period. BlackRock Inc. increased its position 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 valued at $189,648,000 after purchasing an additional 291,891 shares during the period. Finally, Franklin Resources Inc. increased its position 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 valued at $119,289,000 after purchasing an additional 1,188,300 shares during the period. 60.60% of the stock is currently owned by institutional investors.

Shares of 58.com Inc. (NYSE WUBA) opened at $71.86 on Thursday. 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 company has a market capitalization of $10,460.00, a price-to-earnings ratio of 94.55 and a beta of 2.15. 58.com Inc. has a one year low of $27.58 and a one year high of $79.79.

WUBA has been the topic of a number of research reports. Zacks Investment Research cut 58.com from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 16th. BidaskClub lowered 58.com from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 26th. Finally, TheStreet raised 58.com from a “c+” rating to a “b-” rating in a research note on Friday, November 10th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $55.50.

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58.com Company 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.

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

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