Insider Selling: Adam F. Wergeles Unloads 20,000 Shares of ReachLocal Stock (RLOC)
ReachLocal (NASDAQ:RLOC) Insider Adam F. Wergeles sold 20,000 shares of ReachLocal stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $14.00, for a total value of $280,000.00. Following the sale, the insider now directly owns 34,144 shares of the company’s stock, valued at approximately $478,016. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of ReachLocal (NASDAQ:RLOC) traded up 0.21% during mid-day trading on Friday, hitting $14.10. The stock had a trading volume of 106,944 shares. ReachLocal has a one year low of $10.27 and a one year high of $17.39. The stock’s 50-day moving average is $12.61 and its 200-day moving average is $12.47. The company’s market cap is $391.7 million.
ReachLocal (NASDAQ:RLOC) last announced its earnings results on Tuesday, November 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.10. The company had revenue of $133.10 million for the quarter, compared to the consensus estimate of $131.38 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts predict that ReachLocal will post $-0.03 earnings per share for the current fiscal year.
RLOC has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of ReachLocal from an “underperform” rating to a “neutral” rating in a research note to investors on Friday, December 6th. They now have a $12.70 price target on the stock. Finally, analysts at TheStreet downgraded shares of ReachLocal from a “hold” rating to a “sell” rating in a research note to investors on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $15.18.
ReachLocal, Inc (NASDAQ:RLOC) offers online marketing and reporting solutions, including search engine marketing, display advertising, remarketing and online marketing analytics, each targeted to the small and medium-sized businesses (SMB) market.
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