Insider Buying: Rentrak Corp. Director Acquires 1,000 Shares of Stock (RENT)
Rentrak Corp. (NASDAQ:RENT) Director William E. Engel acquired 1,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were purchased at an average cost of $48.00 per share, with a total value of $48,000.00. Following the completion of the purchase, the director now directly owns 37,581 shares in the company, valued at approximately $1,803,888. The acquisition was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on RENT shares. Analysts at Zacks downgraded shares of Rentrak Corp. from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 4th. They now have a $46.20 price target on the stock. Separately, analysts at Brean Capital cut their price target on shares of Rentrak Corp. from $74.00 to $72.00 in a research note on Wednesday, June 4th. They now have a “buy” rating on the stock. Finally, analysts at Sidoti initiated coverage on shares of Rentrak Corp. in a research note on Friday, May 16th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Rentrak Corp. currently has an average rating of “Hold” and a consensus target price of $60.05.
Rentrak Corp. (NASDAQ:RENT) traded down 1.03% on Tuesday, hitting $48.12. 79,643 shares of the company’s stock traded hands. Rentrak Corp. has a one year low of $19.77 and a one year high of $69.00. The stock’s 50-day moving average is $53.2 and its 200-day moving average is $51.9. The company’s market cap is $587.7 million.
Rentrak Corp. (NASDAQ:RENT) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.05. The company had revenue of $21.56 million for the quarter, compared to the consensus estimate of $21.55 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was up 39.8% on a year-over-year basis. On average, analysts predict that Rentrak Corp. will post $0.18 earnings per share for the current fiscal year.
Rentrak Corporation is a global digital media measurement, research and distribution company, serving the entertainment, television and advertising industries.
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