Endurance International Group (NASDAQ:EIGI) Hits New 12-Month Low After Insider Selling
Endurance International Group Holdings Inc (NASDAQ:EIGI)’s stock price reached a new 52-week low during trading on Wednesday after an insider sold shares in the company. The company traded as low as $4.13 and last traded at $4.16, with a volume of 101569 shares traded. The stock had previously closed at $4.44.
Specifically, major shareholder Opportunistic Value Fun Okumus bought 30,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was purchased at an average price of $4.30 per share, with a total value of $129,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marc Montagner sold 9,637 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.54, for a total value of $53,388.98. The disclosure for this sale can be found here. 50.60% of the stock is owned by corporate insiders.
EIGI has been the subject of several research reports. Zacks Investment Research cut Endurance International Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 8th. ValuEngine cut Endurance International Group from a “hold” rating to a “sell” rating in a research report on Monday. Finally, BidaskClub cut Endurance International Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $8.63.
Endurance International Group (NASDAQ:EIGI) last posted its quarterly earnings data on Thursday, August 1st. The software maker reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.07. Endurance International Group had a positive return on equity of 5.21% and a negative net margin of 2.07%. The company had revenue of $278.20 million during the quarter, compared to analysts’ expectations of $279.72 million. During the same period in the prior year, the business earned ($0.01) earnings per share. Endurance International Group’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, analysts predict that Endurance International Group Holdings Inc will post -0.23 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of EIGI. First Trust Advisors LP lifted its position in Endurance International Group by 43.3% in the second quarter. First Trust Advisors LP now owns 9,993,429 shares of the software maker’s stock worth $47,968,000 after purchasing an additional 3,017,718 shares during the period. Okumus Fund Management Ltd. lifted its position in Endurance International Group by 20.2% in the second quarter. Okumus Fund Management Ltd. now owns 14,533,400 shares of the software maker’s stock worth $69,760,000 after purchasing an additional 2,441,502 shares during the period. Dimensional Fund Advisors LP lifted its position in Endurance International Group by 18.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,039,710 shares of the software maker’s stock worth $13,564,000 after purchasing an additional 315,401 shares during the period. Renaissance Technologies LLC lifted its position in Endurance International Group by 6.6% in the second quarter. Renaissance Technologies LLC now owns 3,252,979 shares of the software maker’s stock worth $15,614,000 after purchasing an additional 201,500 shares during the period. Finally, Vanguard Group Inc. lifted its position in Endurance International Group by 2.9% in the second quarter. Vanguard Group Inc. now owns 6,896,775 shares of the software maker’s stock worth $33,105,000 after purchasing an additional 197,273 shares during the period. 92.21% of the stock is owned by institutional investors.
About Endurance International Group (NASDAQ:EIGI)
Endurance International Group Holdings, Inc, together with its subsidiaries, provides cloud-based platform solutions for small-and medium-sized businesses in the United States and internationally. The company operates in three segments: Web Presence, Domain, and Email Marketing. It offers Web hosting services, including entry-level shared hosting, and virtual private server and dedicated hosting solutions; Website building tools that enable subscribers to create a Web presence; domain registration, management, and resale services; malware protection solutions to protect subscribers' Websites from viruses, malicious code, and other threats; and backup control solutions that enable subscribers to schedule, maintain, manage, and restore backups of their online data and Websites.
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