Insider Selling: Vringo CEO Unloads 200,000 Shares of Stock (VRNG)
Vringo (NASDAQ:VRNG) CEO Andrew D. Perlman unloaded 200,000 shares of the stock on the open market in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $5.15, for a total transaction of $1,030,000.00. Following the sale, the chief executive officer now directly owns 786,697 shares in the company, valued at approximately $4,051,490. The transaction was disclosed in a filing with the SEC, which is available at this link.
Vringo (NASDAQ:VRNG) traded down 0.23% during mid-day trading on Friday, hitting $4.29. 6,563,959 shares of the company’s stock traded hands. Vringo has a 52-week low of $2.61 and a 52-week high of $5.45. The stock has a 50-day moving average of $3.31 and a 200-day moving average of $3.10. The company’s market cap is $360.9 million. Vringo also was the target of some unusual options trading activity on Wednesday. Traders bought 33,379 call options on the stock. This is an increase of approximately 367% compared to the average daily volume of 7,140 call options.
Vringo (NASDAQ:VRNG) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.13) earnings per share for the quarter. On average, analysts predict that Vringo will post $-0.50 earnings per share for the current fiscal year.
A number of research firms have recently commented on VRNG. Analysts at Maxim Group raised their price target on shares of Vringo from $5.00 to $7.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Analysts at Dawson James initiated coverage on shares of Vringo in a research note to investors on Wednesday, November 6th. They set a “buy” rating and a $5.25 price target on the stock.
Vringo, Inc (NASDAQ:VRNG) is a development-stage company.
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