Zacks: Renren Inc (RENN) Receives Average Recommendation of “Sell” from Analysts
Renren Inc (NYSE:RENN) has been given an average broker rating score of 4.00 (Sell) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a sell recommendation.
Brokerages have set a 1 year consensus price objective of $1.70 for the company, according to Zacks. Zacks has also given Renren an industry rank of 176 out of 255 based on the ratings given to related companies.
Separately, ValuEngine upgraded shares of Renren from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd.
Renren (NYSE:RENN) last issued its earnings results on Friday, March 29th. The technology company reported ($0.68) earnings per share (EPS) for the quarter. Renren had a negative return on equity of 29.90% and a net margin of 8.48%. The firm had revenue of $116.84 million during the quarter. As a group, equities research analysts forecast that Renren will post 0.11 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Renren by 6.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 262,509 shares of the technology company’s stock valued at $404,000 after acquiring an additional 15,670 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Renren in the third quarter valued at $316,000. Bank of Montreal Can boosted its holdings in Renren by 30.4% in the fourth quarter. Bank of Montreal Can now owns 60,052 shares of the technology company’s stock valued at $92,000 after acquiring an additional 14,000 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Renren in the first quarter valued at $25,000. Institutional investors and hedge funds own 1.42% of the company’s stock.
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 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.
See Also: Are all No-Load Funds Equal?
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.