500.com (WBAI) Reaches New 52-Week Low at $5.22

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500.com Ltd (NYSE:WBAI) shares reached a new 52-week low on Tuesday . The company traded as low as $5.22 and last traded at $7.20, with a volume of 100 shares trading hands. The stock had previously closed at $7.10.

Separately, ValuEngine downgraded 500.com from a “buy” rating to a “hold” rating in a research note on Friday, September 7th.

500.com (NYSE:WBAI) last issued its earnings results on Friday, July 27th. The company reported ($0.19) EPS for the quarter. 500.com had a negative return on equity of 22.25% and a negative net margin of 195.75%. The business had revenue of $4.59 million for the quarter.

Several hedge funds and other institutional investors have recently modified their holdings of WBAI. Krane Funds Advisors LLC bought a new position in shares of 500.com during the 2nd quarter worth approximately $611,000. Millennium Management LLC bought a new position in shares of 500.com during the 1st quarter worth approximately $228,000. Engineers Gate Manager LP bought a new position in shares of 500.com during the 2nd quarter worth approximately $177,000. Finally, BlackRock Inc. boosted its stake in shares of 500.com by 2.7% during the 1st quarter. BlackRock Inc. now owns 156,856 shares of the company’s stock worth $2,692,000 after acquiring an additional 4,160 shares during the period. Institutional investors own 11.73% of the company’s stock.

500.com Company Profile (NYSE:WBAI)

500.com Limited, through its subsidiaries, provides online gaming services primarily in the People's Republic of China and Europe. It operates online gaming sites, such as Multilotto.com or Multilotto.net in Curacao, Malta, the United Kingdom, and Ireland, as well as provides users with various casino services, including online slot machines and online table games.

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