Insider Selling: RetailMeNot CEO Sells 21,000 Shares of Stock (SALE)
RetailMeNot (NASDAQ:SALE) CEO G Cotter Cunningham sold 21,000 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $25.68, for a total transaction of $539,280.00. Following the completion of the sale, the chief executive officer now directly owns 385,341 shares in the company, valued at approximately $9,895,557. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Stifel Nicolaus downgraded shares of RetailMeNot from a “buy” rating to a “hold” rating in a research note on Friday, May 23rd. They now have a $42.00 price target on the stock, up previously from $27.00. Separately, analysts at Wunderlich raised their price target on shares of RetailMeNot from $44.00 to $48.00 in a research note on Tuesday, May 6th. They now have a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of RetailMeNot from an “underperform” rating to a “neutral” rating in a research note on Tuesday, March 11th. They now have a $41.60 price target on the stock. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $43.37.
RetailMeNot (NASDAQ:SALE) traded down 1.54% during mid-day trading on Friday, hitting $25.50. 1,865,818 shares of the company’s stock traded hands. RetailMeNot has a one year low of $22.45 and a one year high of $48.73. The stock has a 50-day moving average of $29.54 and a 200-day moving average of $33.01. The company has a market cap of $1.370 billion and a P/E ratio of 84.09. RetailMeNot also was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 3,663,368 shares, a growth of 101.2% from the April 30th total of 1,820,847 shares. Approximately 12.0% of the shares of the company are short sold. Based on an average daily volume of 1,606,776 shares, the days-to-cover ratio is presently 2.3 days.
RetailMeNot, Inc operates digital coupon marketplace, connecting consumers with retailers and brands.
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