ReachLocal CFO Sells $30,446 in Stock (RLOC)
ReachLocal (NASDAQ:RLOC) CFO Ross Landsbaum sold 2,167 shares of the company’s stock on the open market in a transaction dated Friday, January 17th. The shares were sold at an average price of $14.05, for a total transaction of $30,446.35. Following the completion of the sale, the chief financial officer now directly owns 55,263 shares of the company’s stock, valued at approximately $776,445. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on RLOC. 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. ReachLocal has a consensus rating of “Hold” and an average target price of $15.18.
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 1-year low of $10.27 and a 1-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 posted its quarterly 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. Analysts expect that ReachLocal will post $-0.03 EPS for the current fiscal year.
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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