Reformation Inc.’s (NYSE:REF) Quiet Period Will End on September 8th

Reformation’s (NYSE:REF) quiet period will end on Tuesday, September 8th. Reformation had issued 14,062,500 shares in its IPO on July 30th. The total size of the offering was $210,937,500 based on an initial share price of $15.00. During the company’s quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. William Blair assumed coverage on Reformation in a research note on Monday, August 24th. They issued an “outperform” rating on the stock. Zacks Research upgraded Reformation to a “hold” rating in a research report on Tuesday, August 25th. JPMorgan Chase & Co. started coverage on Reformation in a report on Monday, August 24th. They issued an “overweight” rating and a $21.00 target price for the company. Citigroup began coverage on shares of Reformation in a research note on Monday, August 24th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Guggenheim began coverage on shares of Reformation in a report on Monday, August 24th. They set a “buy” rating and a $20.00 price objective on the stock. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Reformation has a consensus rating of “Moderate Buy” and a consensus price target of $19.25.

Reformation Stock Performance

Reformation stock opened at $13.67 on Friday. Reformation has a 52 week low of $12.83 and a 52 week high of $17.26.

Insider Transactions at Reformation

In other Reformation news, Director Yael Aflalo sold 1,204,029 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $13.95, for a total value of $16,796,204.55. Following the sale, the director owned 11,725,803 shares of the company’s stock, valued at $163,574,951.85. This represents a 9.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Scsp Refo sold 2,987,199 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $13.95, for a total transaction of $41,671,426.05. Following the completion of the sale, the insider directly owned 29,091,749 shares in the company, valued at $405,829,898.55. This trade represents a 9.31% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 4,401,122 shares of company stock valued at $61,395,652.

Reformation Company Profile

Reformation Inc provide sustainable womenswear brand. Reformation Inc is based in LOS ANGELES.