First New York Securities LLC NY purchased a new stake in shares of ReachLocal Inc. (NASDAQ:RLOC) during the second quarter, Holdings Channel reports. The firm purchased 752,700 shares of the company’s stock, valued at approximately $3,425,000. ReachLocal comprises 2.1% of First New York Securities LLC NY’s investment portfolio, making the stock its 14th largest position.
Separately, Renaissance Technologies LLC increased its stake in shares of ReachLocal by 1.8% in the first quarter. Renaissance Technologies LLC now owns 1,033,800 shares of the company’s stock valued at $1,851,000 after buying an additional 18,000 shares during the period.
Shares of ReachLocal Inc. (NASDAQ:RLOC) remained flat at $4.60 during mid-day trading on Tuesday. ReachLocal Inc. has a 52-week low of $0.55 and a 52-week high of $4.60. The stock has a 50 day moving average price of $4.16 and a 200 day moving average price of $2.37.
ReachLocal (NASDAQ:RLOC) last issued its quarterly earnings results on Friday, July 29th. The company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.09. On average, analysts forecast that ReachLocal Inc. will post ($0.51) EPS for the current fiscal year.
Separately, Piper Jaffray Cos. reaffirmed a “hold” rating and issued a $2.60 price objective on shares of ReachLocal in a research report on Thursday, June 2nd.
ReachLocal, Inc (ReachLocal) offers a range of online marketing and reporting solutions. The Company’s digital marketing solution consists of products and solutions in three categories: digital advertising (including ReachSearch, ReachDisplay, ReachDisplay InApp and ReachRetargeting); Web presence (including ReachSite+ReachEdge, ReachSEO, ReachCast, ReachListings and TotalLiveChat), and software (ReachEdge and Kickserv).
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