Zacks: Renren Inc (RENN) Given $1.70 Consensus Price Target by Brokerages
Renren Inc (NYSE:RENN) has earned a consensus broker rating score of 4.00 (Sell) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a sell recommendation.
Brokers have set a one year consensus target price of $1.70 for the company, according to Zacks. Zacks has also assigned Renren an industry rank of 215 out of 255 based on the ratings given to its competitors.
Separately, ValuEngine raised shares of Renren from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd.
A number of hedge funds have recently bought and sold shares of RENN. Connor Clark & Lunn Investment Management Ltd. increased its stake in Renren by 53.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 246,839 shares of the technology company’s stock worth $348,000 after buying an additional 85,989 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Renren in the 3rd quarter worth about $316,000. Finally, Bank of Montreal Can increased its stake in Renren by 30.4% in the 4th quarter. Bank of Montreal Can now owns 60,052 shares of the technology company’s stock worth $92,000 after buying an additional 14,000 shares during the period. 1.42% of the stock is currently owned by institutional investors.
Renren Company Profile
Renren Inc operates a social networking Internet platform in the People's Republic of China. It operates through two segments, Renren and Auto Group. The company operates Renren.com and Renren Mobile App that enable users to communicate and stay connected with friends, classmates, family members, and co-workers; and woxiu.com, a PC-based social video platform for users to stream their performances live to viewers.
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