The stock of Renren Inc (NYSE:RENN) is a huge mover today! The stock increased 8.14% or $0.15 on September 30, hitting $2.06. About 2.01M shares traded hands or 240.23% up from the average. Renren Inc (NYSE:RENN) has declined 38.59% since February 26, 2016 and is downtrending. It has underperformed by 49.01% the S&P500.
The move comes after 9 months positive chart setup for the $690.03M company. It was reported on Sep, 30 by Barchart.com. We have $3.15 PT which if reached, will make NYSE:RENN worth $365.72M more.
Analysts await Renren Inc (NYSE:RENN) to report earnings on November, 25.
According to Zacks Investment Research, “Renren Inc. operates as a social networking internet platform in China offering information and content sharing, music, online games and online shopping and other services including communication. Its platform includes renren.com, our main social networking website, game.renren.com, our online games center, nuomi.com, our social commerce website, and jingwei.com and professional and business social networking service website. Renren Inc.”
Insitutional Activity: The institutional sentiment increased to 1.05 in Q2 2016. Its up 0.44, from 0.61 in 2016Q1. The ratio improved, as 9 funds sold all Renren Inc shares owned while 11 reduced positions. 5 funds bought stakes while 16 increased positions. They now own 6.46 million shares or 11.79% less from 7.33 million shares in 2016Q1.
Blackrock Gru reported 59,009 shares or 0% of all its holdings. Credit Suisse Ag has invested 0% of its portfolio in Renren Inc (NYSE:RENN). Financial Bank Of America Corporation De has 0% invested in the company for 6,400 shares. Wells Fargo & Com Mn holds 0% of its portfolio in Renren Inc (NYSE:RENN) for 2,241 shares. Invesco Limited reported 144,977 shares or 0% of all its holdings. Fmr Ltd accumulated 0% or 1.35M shares. Global X Mgmt Company Limited Liability Company owns 81,024 shares or 0.01% of their US portfolio. Morgan Stanley holds 0% of its portfolio in Renren Inc (NYSE:RENN) for 479,858 shares. Sg Americas Securities has 0.01% invested in the company for 851,925 shares. Gru One Trading L P owns 61,838 shares or 0% of their US portfolio. Joel Isaacson Lc reported 60,000 shares or 0.02% of all its holdings. Barclays Plc reported 431,412 shares or 0% of all its holdings. Bank Of Montreal Can accumulated 0% or 7,200 shares. Tower Rech Limited Liability Co (Trc) reported 2,152 shares or 0% of all its holdings. Tiaa Cref Investment Mngmt Lc last reported 76,400 shares in the company.
More recent Renren Inc (NYSE:RENN) news were published by: Twst.com which released: “Renren Inc.: Renren Announces Intention to Undertake Spin-Off” on September 30, 2016. Also Quotes.Wsj.com published the news titled: “DOW JONES, A NEWS CORP COMPANY” on February 14, 2011. Prnewswire.com‘s news article titled: “Renren Announces Receipt of Preliminary Non-Binding “Going Private” Proposal” with publication date: June 10, 2015 was also an interesting one.
RENN Company Profile
Renren Inc., incorporated in February 01, 2006, operates a real name social networking Internet platform in China. The Firm enables users to connect and communicate with each other, share photos, and various features and services. The Firm is developing Internet finance business to leverage its social networking services and user base in China, particularly focusing on the audience of college students and young people in China. The Firm operates through two divisions: Renren and Internet finance. The Company’s Renren segment focuses on online advertising and Internet value-added services (IVAS). The Company’s Internet finance segment includes Renren Fenqi, an online platform, which provides credit financing to college students in China through the form of payment by installments; its used automobile financing business provides credit financing to used automobile dealers, and Renren Licai, a financing and lending platform.
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