Shares of Renren Inc (NYSE:RENN) have been assigned a consensus broker rating score of 4.00 (Sell) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a sell rating.
Analysts have set a twelve-month consensus target price of $10.60 for the company, according to Zacks. Zacks has also given Renren an industry rank of 102 out of 257 based on the ratings given to related companies.
Separately, ValuEngine cut shares of Renren from a “hold” rating to a “sell” rating in a research report on Thursday, November 8th.
Renren (NYSE:RENN) last released its earnings results on Tuesday, September 11th. The technology company reported ($0.06) earnings per share for the quarter. Renren had a net margin of 10.94% and a negative return on equity of 19.14%. The firm had revenue of $135.04 million during the quarter.
Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in Renren by 192.8% in the first quarter. Dimensional Fund Advisors LP now owns 61,668 shares of the technology company’s stock valued at $518,000 after purchasing an additional 40,605 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Renren in the second quarter valued at about $397,000. Cubist Systematic Strategies LLC raised its stake in Renren by 189.4% in the second quarter. Cubist Systematic Strategies LLC now owns 50,867 shares of the technology company’s stock valued at $126,000 after purchasing an additional 33,292 shares in the last quarter. Global X Management Co LLC raised its stake in Renren by 806.5% in the second quarter. Global X Management Co LLC now owns 243,320 shares of the technology company’s stock valued at $601,000 after purchasing an additional 216,478 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Renren during the third quarter worth about $316,000. 3.28% of the stock is owned by institutional investors.
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.
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