Renren Sees Unusually High Options Volume (RENN)

Renren (NYSE:RENN) saw some unusual options trading on Thursday. Traders purchased 1,531 put options on the company. This represents an increase of approximately 1,660% compared to the typical volume of 87 put options.

A number of institutional investors and hedge funds have recently bought and sold shares of RENN. Raymond James & Associates purchased a new position in Renren during the 4th quarter valued at $107,000. Virtu Financial LLC purchased a new position in Renren during the 4th quarter valued at $150,000. Northern Trust Corp boosted its holdings in Renren by 48.5% during the 2nd quarter. Northern Trust Corp now owns 29,146 shares of the technology company’s stock valued at $177,000 after acquiring an additional 9,523 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Renren by 1,254.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 36,019 shares of the technology company’s stock worth $313,000 after buying an additional 33,360 shares during the period. Finally, State Street Corp lifted 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 buying an additional 3,105 shares during the period. Institutional investors own 1.99% of the company’s stock.

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RENN opened at $9.43 on Friday. Renren has a 52-week low of $6.01 and a 52-week high of $18.70. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.51 and a quick ratio of 1.30. The firm has a market cap of $589.06, a P/E ratio of -3.31 and a beta of 0.90.

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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 Internet Finance. 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.

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