Notable Price Action: What’s Propelling Renren Inc to Decline So Much?

Notable Price Action: What's Propelling Renren Inc to Decline So Much?

The stock of Renren Inc (NYSE:RENN) is a huge mover today! About 1.42M shares traded hands or 76.63% up from the average. Renren Inc (NYSE:RENN) has declined 26.05% since March 2, 2016 and is downtrending. It has underperformed by 34.31% the S&P500.
The move comes after 8 months negative chart setup for the $959.24M company. It was reported on Oct, 5 by Barchart.com. We have $2.15 PT which if reached, will make NYSE:RENN worth $76.74 million less.

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 2016 Q2. 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.
Royal Retail Bank Of Canada, a Ontario – Canada-based fund reported 100 shares. California Employees Retirement Sys holds 423,800 shares or 0% of its portfolio. The Illinois-based Citadel Lc has invested 0% in Renren Inc (NYSE:RENN). Legal & General Gru Public Limited reported 30,000 shares or 0% of all its holdings. Joel Isaacson & Co Limited Liability Corp has 0.02% invested in the company for 60,000 shares. Moreover, Blackrock Fund Advisors has 0% invested in Renren Inc (NYSE:RENN) for 366,966 shares. Moreover, Tiaa Cref Limited Liability Co has 0% invested in Renren Inc (NYSE:RENN) for 76,400 shares. Marshall Wace Limited Liability Partnership has 158,590 shares for 0% of their US portfolio. The California-based Blackrock Institutional Tru Na has invested 0% in Renren Inc (NYSE:RENN). Gru One Trading Lp holds 0% of its portfolio in Renren Inc (NYSE:RENN) for 61,838 shares. Ladenburg Thalmann Financial Serv Inc last reported 0% of its portfolio in the stock. Fmr Ltd Llc accumulated 0% or 1.35M shares. Susquehanna Gru Ltd Liability Partnership reported 72,666 shares or 0% of all its holdings. Barclays Pcl accumulated 0% or 431,412 shares. Northern Trust Corporation has 121,738 shares for 0% of their US portfolio.

More recent Renren Inc (NYSE:RENN) news were published by: Fool.com which released: “Why Renren Inc. Stock Soared Today” on October 04, 2016. Also Prnewswire.com published the news titled: “Renren Announces Intention to Undertake Spin-Off” on September 30, 2016. Benzinga.com‘s news article titled: “Mid-Afternoon Market Update: Dow Drops More Than 100 Points; Summit …” with publication date: October 04, 2016 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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