RetailMeNot Short Interest Up 101.2% in May (SALE)
Shares of RetailMeNot (NASDAQ:SALE) saw a large growth in short interest during 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, AnalystRatings.NET reports. Based on an average daily volume of 1,606,776 shares, the short-interest ratio is currently 2.3 days. Approximately 12.0% of the company’s stock are short sold.
In other RetailMeNot news, CEO G Cotter Cunningham sold 21,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $25.68, for a total value of $539,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
SALE has been the subject of a number of recent research reports. 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. RetailMeNot currently has a consensus rating of “Buy” and an average target price of $43.37.
Shares of RetailMeNot (NASDAQ:SALE) opened at 25.50 on Monday. RetailMeNot has a 52-week low of $22.45 and a 52-week 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 price-to-earnings ratio of 84.09.
RetailMeNot, Inc operates digital coupon marketplace, connecting consumers with retailers and brands.
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