Renren Inc (RENN) Stake Held by Chen Joseph

Chen Joseph

recently disclosed that they own a 36.2% stake in Renren Inc (NYSE:RENN) in a Schedule 13G/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Monday, January 29th. The investor owns 355,119,836 shares of the stock worth approximately $3,650,631,914. The filing is available through Edgar at this link.

Several other large investors have also made changes to their positions in the stock. Global X MANAGEMENT CO LLC grew its position in shares of Renren by 16.0% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 56,155 shares of the technology company’s stock valued at $503,000 after buying an additional 7,756 shares during the last quarter. State Street Corp grew its position in Renren by 6.3% in the 2nd quarter. State Street Corp now owns 52,288 shares of the technology company’s stock worth $319,000 after purchasing an additional 3,105 shares during the last quarter. JPMorgan Chase & Co. grew its position in Renren by 1,254.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 36,019 shares of the technology company’s stock worth $313,000 after purchasing an additional 33,360 shares during the last quarter. Nomura Holdings Inc. bought a new position in Renren in the 2nd quarter worth about $187,000. Finally, Northern Trust Corp grew its position in Renren by 48.5% in the 2nd quarter. Northern Trust Corp now owns 29,146 shares of the technology company’s stock worth $177,000 after purchasing an additional 9,523 shares during the last quarter. 2.36% of the stock is owned by institutional investors and hedge funds.

Renren Inc (RENN) traded down $0.21 during midday trading on Monday, reaching $10.28. 55,525 shares of the company’s stock traded hands, compared to its average volume of 2,452,168. Renren Inc has a 1 year low of $6.01 and a 1 year high of $18.70. The company has a quick ratio of 1.30, a current ratio of 1.51 and a debt-to-equity ratio of 0.11.

Renren (NYSE:RENN) last posted its earnings results on Friday, December 15th. The technology company reported ($0.33) EPS for the quarter. Renren had a negative return on equity of 20.63% and a negative net margin of 119.20%. equities analysts expect that Renren Inc will post -1.01 earnings per share for the current year.

Separately, BidaskClub upgraded shares of Renren from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 2nd.

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Renren Profile

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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Institutional Ownership by Quarter for Renren (NYSE:RENN)

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