Morgan Stanley cut its holdings in 500.com Ltd (NYSE:WBAI) by 14.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 551,387 shares of the company’s stock after selling 92,632 shares during the quarter. Morgan Stanley owned approximately 1.30% of 500.com worth $6,098,000 at the end of the most recent quarter.
Separately, Krane Funds Advisors LLC grew its position in shares of 500.com by 26.1% in the third quarter. Krane Funds Advisors LLC now owns 52,350 shares of the company’s stock valued at $579,000 after purchasing an additional 10,831 shares during the last quarter. Hedge funds and other institutional investors own 10.38% of the company’s stock.
Separately, ValuEngine lowered shares of 500.com from a “buy” rating to a “hold” rating in a research report on Thursday, February 14th.
NYSE WBAI traded down $0.13 during mid-day trading on Friday, reaching $14.28. 100,283 shares of the stock were exchanged, compared to its average volume of 85,172. 500.com Ltd has a 1-year low of $5.22 and a 1-year high of $21.80.
500.com (NYSE:WBAI) last announced its earnings results on Wednesday, February 20th. The company reported ($0.88) earnings per share (EPS) for the quarter. 500.com had a negative return on equity of 35.93% and a negative net margin of 357.65%. The firm had revenue of $3.95 million for the quarter.
500.com Company Profile
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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