Concert Wealth Management Inc. maintained its position in Renren Inc. (NYSE:RENN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,000 shares of the company’s stock at the end of the second quarter. Concert Wealth Management Inc.’s holdings in Renren were worth $107,000 as of its most recent filing with the SEC.
Renren Inc. (NYSE:RENN) traded up 0.48% during midday trading on Monday, hitting $2.09. 233,623 shares of the stock traded hands. The stock’s market capitalization is $712.26 million. The firm’s 50 day moving average is $1.98 and its 200-day moving average is $2.23. Renren Inc. has a 12-month low of $1.51 and a 12-month high of $3.77.
Renren (NYSE:RENN) last released its earnings results on Tuesday, August 16th. The company reported ($0.21) earnings per share for the quarter. Renren had a negative net margin of 399.29% and a negative return on equity of 22.60%. The firm earned $10.38 million during the quarter, compared to the consensus estimate of $10.78 million. On average, analysts anticipate that Renren Inc. will post ($0.30) EPS for the current fiscal year.
Separately, Zacks Investment Research upgraded shares of Renren from a “sell” rating to a “hold” rating in a research note on Wednesday, July 20th.
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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