RetailMeNot Inc. (SALE) Shares Down 6.7%
RetailMeNot Inc. (NASDAQ:SALE) shares dropped 6.7% during trading on Friday . The company traded as low as $11.90 and last traded at $11.93, with a volume of 370,363 shares changing hands. The stock had previously closed at $12.79.
SALE has been the topic of a number of recent analyst reports. Jefferies Group reiterated a “buy” rating and issued a $12.50 price objective on shares of RetailMeNot in a report on Monday, August 15th. TheStreet upgraded RetailMeNot from a “sell” rating to a “hold” rating in a report on Monday, July 18th. Zacks Investment Research cut RetailMeNot from a “buy” rating to a “hold” rating in a research report on Saturday, May 7th. Credit Suisse Group AG reissued a “hold” rating on shares of RetailMeNot in a research report on Wednesday, May 4th. Finally, Wedbush set a $10.00 target price on RetailMeNot and gave the company a “neutral” rating in a research report on Wednesday, August 3rd. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. RetailMeNot has an average rating of “Hold” and an average price target of $13.36.
The company has a market capitalization of $582.65 million and a P/E ratio of 68.40. The firm has a 50 day moving average price of $9.35 and a 200-day moving average price of $8.10.
RetailMeNot (NASDAQ:SALE) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.06. During the same quarter in the prior year, the firm earned $0.09 EPS. The company had revenue of $64.20 million for the quarter, compared to analyst estimates of $62.89 million. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. Equities analysts predict that RetailMeNot Inc. will post $0.59 earnings per share for the current fiscal year.
Several hedge funds and institutional investors recently modified their holdings of SALE. Cornerstone Capital Management Holdings LLC. boosted 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. boosted 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 bought a new position in shares of RetailMeNot during the fourth quarter worth approximately $6,064,000. Finally, Dimensional Fund Advisors LP boosted 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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