Renren Inc. (NYSE:RENN) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday.
Separately, ValuEngine upgraded shares of Renren from a “sell” rating to a “hold” rating in a report on Friday, September 1st.
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Institutional investors have recently bought and sold shares of the stock. Newman Dignan & Sheerar Inc. acquired a new stake in Renren in the 3rd quarter valued at approximately $111,000. Northern Trust Corp increased its holdings in Renren by 48.5% in the 2nd quarter. Northern Trust Corp now owns 29,146 shares of the technology company’s stock valued at $177,000 after purchasing an additional 9,523 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in Renren in the 2nd quarter valued at approximately $187,000. KCG Holdings Inc. acquired a new stake in Renren in the 1st quarter valued at approximately $187,000. Finally, Global X Management Co. LLC increased its holdings in Renren by 249.0% in the 2nd quarter. Global X Management Co. LLC now owns 48,399 shares of the technology company’s stock valued at $295,000 after purchasing an additional 34,531 shares during the last quarter. Hedge funds and other institutional investors own 2.65% of the company’s stock.
Renren Inc operates a real name social networking Internet platform in China. The Company enables users to connect and communicate with each other, share photos, and various features and services. The Company is developing Internet finance business to leverage its social networking services and user base in China, particularly focusing on the audience of college students and young people in China.
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