J Carlo Cannell recently disclosed that they own 8.5% of Rightside Group Ltd. (NASDAQ:NAME) in a Schedule 13D/A disclosure that was filed with the SEC on Monday, September 19th. The investor owns 1,632,287 shares of the stock valued at approximately $13,482,691. The disclosure is available through the SEC website at this link.

J Carlo Cannell provided the following explanation of their ownership:

Mr. Cannell, on behalf of the Investment Vehicles, identified the Company as an entity satisfying each of the Investment Vehicles investment criteria. The Investment Vehicles acquired and continue to hold the Shares as a longterm investment.
Cannell Capital files this 13D amendment in order to update the percentage of Shares owned following recent purchase transactions.
Mr. Cannell reserves the right to discuss various views and opinions with respect to the Company and its business plans with the Company or the members of its senior management. The discussion of such views and opinions may extend from ordinary daytoday business operations to matters such as nominees for representation on the Company’s board of directors, senior management decisions and extraordinary business transactions. Mr. Cannell reserves the right to take such action as he may deem necessary from time to time to seek to maximize the value of the Shares. Such actions may include, but may not necessarily be limited to, pursuit of strategic initiatives to enhance shareholder value.
Mr. Cannell may engage in any of the actions specified in Items 4(a) through 4(j) to the Schedule 13D general instructions.
Except as set forth above and laid out in the Exhibit, Mr. Cannell has no present plans or proposals that relate to or would result in any of the transactions described in Item 4 of Schedule 13D.

Other hedge funds have also recently added to or reduced their stakes in the company. UBS Group AG purchased a new stake in Rightside Group during the first quarter worth $225,000. Granite Investment Partners LLC purchased a new stake in Rightside Group during the first quarter worth $963,000. Geode Capital Management LLC boosted its stake in Rightside Group by 4.2% in the first quarter. Geode Capital Management LLC now owns 52,655 shares of the company’s stock worth $423,000 after buying an additional 2,142 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Rightside Group by 158.9% in the first quarter. Goldman Sachs Group Inc. now owns 33,709 shares of the company’s stock worth $271,000 after buying an additional 20,690 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in Rightside Group by 0.8% in the first quarter. Royal Bank of Canada now owns 37,292 shares of the company’s stock worth $300,000 after buying an additional 292 shares in the last quarter. Institutional investors and hedge funds own 57.43% of the company’s stock.

Shares of Rightside Group Ltd. (NASDAQ:NAME) opened at 8.26 on Monday. Rightside Group Ltd. has a 1-year low of $7.00 and a 1-year high of $12.85. The firm’s market capitalization is $159.46 million. The company has a 50-day moving average of $10.72 and a 200-day moving average of $9.60.

Rightside Group (NASDAQ:NAME) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.09. The firm had revenue of $54.04 million for the quarter, compared to analyst estimates of $55.46 million. Rightside Group had a negative net margin of 6.90% and a negative return on equity of 10.66%. Equities research analysts predict that Rightside Group Ltd. will post ($0.81) EPS for the current fiscal year.

A number of analysts have recently weighed in on NAME shares. Zacks Investment Research cut shares of Rightside Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Deutsche Bank AG raised their price target on shares of Rightside Group from $7.50 to $11.00 and gave the company a “hold” rating in a report on Wednesday, August 10th. Finally, B. Riley restated a “buy” rating and issued a $15.00 price target on shares of Rightside Group in a report on Monday, August 15th.

Rightside Group Company Profile

Rightside Group, Ltd. is a provider of domain name services that enable businesses and consumers to find, establish and maintain their digital address. The Company is a registrar, offering domain name registration and other related services to resellers and domain name registrants. It provides infrastructure services through its eNom brand.

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