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.
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.
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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