RetailMeNot Inc. (SALE) Trading Down 6.7%
Shares of RetailMeNot Inc. (NASDAQ:SALE) traded down 6.7% during mid-day trading on Friday . The company traded as low as $11.90 and last traded at $11.93, with a volume of 370,363 shares. The stock had previously closed at $12.79.
A number of analysts have issued reports on the company. Zacks Investment Research raised RetailMeNot from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective on the stock in a research note on Saturday, August 6th. Jefferies Group reaffirmed a “buy” rating on shares of RetailMeNot in a research note on Monday, July 11th. TheStreet raised RetailMeNot from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of RetailMeNot in a research note on Wednesday, May 4th. Finally, Wedbush set a $10.00 price objective on RetailMeNot and gave the stock a “neutral” rating in a research note on Wednesday, August 3rd. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. RetailMeNot has a consensus rating of “Hold” and an average price target of $13.36.
The company has a market cap of $582.65 million and a PE ratio of 68.40. The firm’s 50-day moving average is $9.23 and its 200-day moving average is $8.07.
RetailMeNot (NASDAQ:SALE) last posted its earnings results on Tuesday, August 2nd. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.04 by $0.06. During the same period last year, the business earned $0.09 earnings per share. The company had revenue of $64.20 million for the quarter, compared to analyst estimates of $62.89 million. The firm’s revenue was up 20.7% on a year-over-year basis. On average, analysts forecast that RetailMeNot Inc. will post $0.59 earnings per share for the current year.
A number of institutional investors have modified their holdings of the company. Cornerstone Capital Management Holdings LLC. increased its position in shares of RetailMeNot by 361.1% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 169,242 shares of the company’s stock worth $1,678,000 after buying an additional 132,542 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of RetailMeNot by 276.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 231,150 shares of the company’s stock worth $2,293,000 after buying an additional 169,750 shares in the last quarter. Matarin Capital Management LLC acquired a new position in shares of RetailMeNot during the fourth quarter worth about $6,064,000. Finally, Dimensional Fund Advisors LP increased its position in shares of RetailMeNot by 19.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 675,423 shares of the company’s stock worth $6,701,000 after buying an additional 111,634 shares in the last quarter.
RetailMeNot Inc operates a digital savings destination connecting consumers with retailers, restaurants and brands, both online and in-store. The Company’s marketplace features over 800,000 digital offers each month. The Company’s Websites, mobile applications, e-mail newsletters and alerts and social media presence enable consumers to search for, discover and redeem digital offers from retailers and brands.
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