Insider Selling: RetailMeNot major shareholder Unloads 732,018 Shares of Stock (SALE)
RetailMeNot (NASDAQ:SALE) major shareholder J.P. Morgan Investment Managem sold 732,018 shares of the company’s stock on the open market in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $36.80, for a total value of $26,938,262.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of RetailMeNot (NASDAQ:SALE) traded up 3.38% on Friday, hitting $38.53. The stock had a trading volume of 2,312,419 shares. RetailMeNot has a 52-week low of $25.51 and a 52-week high of $39.50. The stock’s 50-day moving average is $31.95 and its 200-day moving average is $31.83. The company’s market cap is $2.025 billion. RetailMeNot also was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 2,492,233 shares, an increase of 21.4% from the December 31st total of 1,958,805 shares. Based on an average daily volume of 629,616 shares, the days-to-cover ratio is presently 4.0 days. Approximately 14.1% of the shares of the company are short sold.
RetailMeNot (NASDAQ:SALE) last announced its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.29 by $0.03. The company had revenue of $78.50 million for the quarter, compared to the consensus estimate of $68.71 million. RetailMeNot’s revenue was up 54.5% compared to the same quarter last year. On average, analysts predict that RetailMeNot will post $1.05 earnings per share for the current fiscal year.
SALE has been the subject of a number of recent research reports. Analysts at Credit Suisse raised their price target on shares of RetailMeNot from $38.00 to $43.00 in a research note to investors on Friday. Separately, analysts at Wunderlich raised their price target on shares of RetailMeNot from $38.00 to $44.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of RetailMeNot from $33.00 to $42.00 in a research note to investors on Friday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. RetailMeNot presently has a consensus rating of “Buy” and an average target price of $41.23.
RetailMeNot, Inc operates digital coupon marketplace, connecting consumers with retailers and brands.
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