Reformation Inc.’s Quiet Period Set To End on September 8th (NYSE:REF)

Reformation’s (NYSE:REF) quiet period is set to end on Tuesday, September 8th. Reformation had issued 14,062,500 shares in its initial public offering on July 30th. The total size of the offering was $210,937,500 based on an initial share price of $15.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analysts Set New Price Targets

REF has been the topic of a number of research analyst reports. Telsey Advisory Group began coverage on shares of Reformation in a research note on Monday, August 24th. They set an “outperform” rating and a $20.00 price objective on the stock. Morgan Stanley initiated coverage on Reformation in a research report on Monday, August 24th. They issued an “equal weight” rating and a $16.00 target price for the company. Citigroup started coverage on Reformation in a research note on Monday, August 24th. They set a “buy” rating and a $20.00 price target for the company. Royal Bank Of Canada initiated coverage on Reformation in a research report on Monday, August 24th. They set an “outperform” rating and a $18.00 price target on the stock. Finally, William Blair initiated coverage on Reformation in a research note on Monday, August 24th. They issued an “outperform” rating on the stock. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.25.

Reformation Trading Up 0.6%

NYSE:REF opened at $14.27 on Thursday. Reformation has a twelve month low of $12.83 and a twelve month high of $17.26.

Insider Buying and Selling

In related news, Director Yael Aflalo sold 1,204,029 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $13.95, for a total transaction of $16,796,204.55. Following the completion of the sale, the director directly owned 11,725,803 shares of the company’s stock, valued at $163,574,951.85. This represents a 9.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Scsp Refo sold 2,987,199 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $13.95, for a total transaction of $41,671,426.05. Following the sale, the insider owned 29,091,749 shares of the company’s stock, valued at $405,829,898.55. The trade was a 9.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Reformation Company Profile

Reformation Inc provide sustainable womenswear brand. Reformation Inc is based in LOS ANGELES.