Zacks: Renren Inc (RENN) Receives Consensus Rating of “Sell” from Brokerages

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 equities research analyst has rated the stock with a sell recommendation.

Brokerages have set a one year consensus price objective of $10.60 for the company, according to Zacks. Zacks has also given Renren an industry rank of 27 out of 255 based on the ratings given to related companies.

Separately, ValuEngine upgraded Renren from a “hold” rating to a “buy” rating in a report on Monday, April 9th.

NYSE:RENN traded up $0.12 on Friday, reaching $2.56. 75,111 shares of the stock traded hands, compared to its average volume of 3,533,087. The company has a market capitalization of $161.27 million, a PE ratio of -1.52 and a beta of 0.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.26. Renren has a 1-year low of $1.66 and a 1-year high of $18.70.

Renren (NYSE:RENN) last released its earnings results on Monday, May 7th. The technology company reported ($0.79) earnings per share for the quarter. The firm had revenue of $97.06 million for the quarter. Renren had a negative net margin of 42.22% and a negative return on equity of 17.59%.

The firm also recently declared a dividend, which was paid on Thursday, June 21st. Shareholders of record on Thursday, June 14th were issued a dividend of $9.1875 per share. The ex-dividend date was Friday, June 22nd.

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in shares of Renren by 1.9% during the 4th quarter. BlackRock Inc. now owns 336,256 shares of the technology company’s stock worth $3,494,000 after buying an additional 6,297 shares in the last quarter. Raymond James & Associates bought a new position in shares of Renren during the 4th quarter worth approximately $107,000. Aperio Group LLC bought a new position in shares of Renren during the 1st quarter worth approximately $117,000. Guggenheim Capital LLC boosted its holdings in shares of Renren by 34.1% during the 4th quarter. Guggenheim Capital LLC now owns 55,590 shares of the technology company’s stock worth $577,000 after buying an additional 14,142 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Renren during the 4th quarter worth approximately $150,000. Hedge funds and other institutional investors own 2.52% of the company’s stock.

About Renren

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.

Get a free copy of the Zacks research report on Renren (RENN)

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.


Leave a Reply