SG Americas Securities LLC lowered its stake in Renren Inc. (NYSE:RENN) by 22.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 95,305 shares of the technology company’s stock after selling 26,954 shares during the period. SG Americas Securities LLC owned 0.14% of Renren worth $854,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of RENN. Newman Dignan & Sheerar Inc. acquired a new position in Renren during the 3rd quarter valued at about $111,000. Northern Trust Corp lifted its stake in shares of Renren by 48.5% in the 2nd quarter. Northern Trust Corp now owns 29,146 shares of the technology company’s stock worth $177,000 after acquiring an additional 9,523 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of Renren in the 2nd quarter worth approximately $187,000. Global X Management Co. LLC lifted its stake in shares of Renren by 249.0% in the 2nd quarter. Global X Management Co. LLC now owns 48,399 shares of the technology company’s stock worth $295,000 after acquiring an additional 34,531 shares during the period. Finally, State Street Corp raised its holdings in shares of Renren by 6.3% in the 2nd quarter. State Street Corp now owns 52,288 shares of the technology company’s stock worth $319,000 after purchasing an additional 3,105 shares in the last quarter. 2.42% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently issued reports on RENN. BidaskClub upgraded shares of Renren from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. ValuEngine raised shares of Renren from a “sell” rating to a “hold” rating in a research report on Friday, September 1st.
Renren Inc. (RENN) traded down $0.19 during mid-day trading on Thursday, reaching $9.99. 199,200 shares of the company’s stock traded hands, compared to its average volume of 202,935. The company has a quick ratio of 1.42, a current ratio of 1.46 and a debt-to-equity ratio of 0.11. Renren Inc. has a 12 month low of $6.01 and a 12 month high of $11.98.
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Renren Inc operates a real name social networking Internet platform in China. The Company enables users to connect and communicate with each other, share photos, and various features and services. The Company is developing Internet finance business to leverage its social networking services and user base in China, particularly focusing on the audience of college students and young people in China.
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