Zacks: Renren Inc (NYSE:RENN) Receives Consensus Rating of “Sell” from Analysts
Renren Inc (NYSE:RENN) has received a consensus broker rating score of 4.00 (Sell) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a sell rating.
Brokers have set a 1-year consensus target price of $1.70 for the company, according to Zacks. Zacks has also given Renren an industry rank of 224 out of 256 based on the ratings given to related companies.
A number of institutional investors have recently modified their holdings of RENN. Morgan Stanley lifted its position in Renren by 38.5% in the second quarter. Morgan Stanley now owns 539,121 shares of the technology company’s stock valued at $523,000 after buying an additional 149,769 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Renren by 9.9% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 287,185 shares of the technology company’s stock worth $279,000 after buying an additional 25,901 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Renren during the first quarter worth about $30,000. Institutional investors own 1.67% of the company’s stock.
Renren (NYSE:RENN) last posted its earnings results on Tuesday, June 11th. The technology company reported ($0.15) earnings per share for the quarter. Renren had a net margin of 17.78% and a negative return on equity of 27.86%. The firm had revenue of $110.36 million during the quarter.
Renren Company Profile
Renren Inc operates a social networking Internet platform in the People's Republic of China. It operates through two segments, Renren and Auto Group. The company operates Renren.com and Renren Mobile App that enable users to communicate and stay connected with friends, classmates, family members, and co-workers; and woxiu.com, a PC-based social video platform for users to stream their performances live to viewers.
Featured Story: Outperform Rating
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Renren Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renren and related companies with MarketBeat.com's FREE daily email newsletter.