ReachLocal CEO Sharon T. Rowlands Purchases 80,000 Shares (RLOC)
ReachLocal (NASDAQ:RLOC) CEO Sharon T. Rowlands acquired 80,000 shares of the stock on the open market in a transaction that occurred on Wednesday, June 4th. The shares were purchased at an average cost of $6.13 per share, with a total value of $490,400.00. Following the purchase, the chief executive officer now directly owns 230,000 shares of the company’s stock, valued at approximately $1,409,900. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
RLOC has been the subject of a number of recent research reports. Analysts at Bank of America downgraded shares of ReachLocal to an “underperform” rating in a research note on Tuesday. They now have a $7.00 price target on the stock, down previously from $7.50. Separately, analysts at TheStreet downgraded shares of ReachLocal from a “hold” rating to a “sell” rating in a research note on Thursday, May 8th. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company. ReachLocal presently has a consensus rating of “Hold” and an average target price of $12.22.
Shares of ReachLocal (NASDAQ:RLOC) traded up 0.65% during mid-day trading on Wednesday, hitting $6.23. 167,714 shares of the company’s stock traded hands. ReachLocal has a 52-week low of $5.87 and a 52-week high of $15.26. The stock has a 50-day moving average of $8.07 and a 200-day moving average of $10.80. The company’s market cap is $180.0 million.
ReachLocal (NASDAQ:RLOC) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.09. The company had revenue of $124.73 million for the quarter, compared to the consensus estimate of $124.70 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts predict that ReachLocal will post $-1.12 earnings per share 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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