Renren Inc (RENN) Receives Consensus Rating of “Sell” from Brokerages

Shares of Renren Inc (NYSE:RENN) have earned a consensus broker rating score of 4.00 (Sell) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a sell recommendation.

Brokerages have set a one year consensus target price of $10.60 for the company, according to Zacks. Zacks has also assigned Renren an industry rank of 199 out of 265 based on the ratings given to its competitors.

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

Institutional investors have recently made changes to their positions in the stock. Global X MANAGEMENT CO LLC grew its holdings in Renren by 16.0% during the third quarter. Global X MANAGEMENT CO LLC now owns 56,155 shares of the technology company’s stock worth $503,000 after buying an additional 7,756 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Renren during the second quarter worth $187,000. Newman Dignan & Sheerar Inc. bought a new stake in Renren during the third quarter worth $111,000. JPMorgan Chase & Co. grew its holdings in Renren by 1,254.6% during the third quarter. JPMorgan Chase & Co. now owns 36,019 shares of the technology company’s stock worth $313,000 after buying an additional 33,360 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Renren by 108.1% during the second quarter. SG Americas Securities LLC now owns 122,259 shares of the technology company’s stock worth $745,000 after buying an additional 63,522 shares in the last quarter. Institutional investors and hedge funds own 2.41% of the company’s stock.

Renren (RENN) traded up $5.89 during midday trading on Thursday, hitting $18.32. The stock had a trading volume of 10,456,899 shares, compared to its average volume of 6,702,450. The company has a market capitalization of $849.42, a P/E ratio of -8.37 and a beta of 0.79. Renren has a 52-week low of $6.01 and a 52-week high of $18.70. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.30 and a current ratio of 1.51.

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Renren Company 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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