Demand Media Inc. (DMD) Sees Unusually-High Trading Volume
Demand Media Inc. (NYSE:DMD) saw an uptick in trading volume on Friday . 623,263 shares changed hands during mid-day trading, an increase of 288% from the previous session’s volume of 160,502 shares.The stock last traded at $5.54 and had previously closed at $5.62.
A number of research firms recently issued reports on DMD. B. Riley restated a “buy” rating and issued a $9.00 target price on shares of Demand Media in a report on Wednesday, August 10th. TheStreet downgraded shares of Demand Media from a “hold” rating to an “e+” rating in a report on Friday, July 29th. Jefferies Group restated a “hold” rating on shares of Demand Media in a report on Monday, August 1st. Zacks Investment Research upgraded shares of Demand Media from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. Finally, Roth Capital initiated coverage on shares of Demand Media in a research report on Wednesday, June 29th. They set a “buy” rating and a $8.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Demand Media presently has an average rating of “Buy” and an average target price of $7.58.
The firm’s 50-day moving average price is $5.57 and its 200 day moving average price is $5.36. The firm’s market cap is $112.34 million.
Demand Media (NYSE:DMD) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.12. The firm earned $24.40 million during the quarter, compared to analyst estimates of $25.77 million. The company’s quarterly revenue was down 18.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.24) EPS. Equities analysts predict that Demand Media Inc. will post ($1.14) EPS for the current year.
An institutional investor recently raised its position in Demand Media stock. Dimensional Fund Advisors LP increased its stake in shares of Demand Media Inc. (NYSE:DMD) by 189.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,056,420 shares of the company’s stock after buying an additional 691,718 shares during the period. Dimensional Fund Advisors LP owned 5.28% of Demand Media worth $5,810,000 at the end of the most recent reporting period.
Demand Media, Inc is an Internet company. The Company builds platforms across its media and marketplaces properties to enable communities of creators to reach audiences in various lifestyle categories. The Company’s service offerings include Content and Media, and Marketplaces. Its Content and Media service offering includes its owned and operated online properties that publish media content.
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