RetailMeNot Short Interest Up 82.1% in May (SALE)
Shares of RetailMeNot (NASDAQ:SALE) saw a large growth in short interest during the month of May. As of May 30th, there was short interest totalling 6,672,177 shares, a growth of 82.1% from the May 15th total of 3,663,368 shares, Analyst Ratings Net reports. Based on an average trading volume of 2,856,409 shares, the days-to-cover ratio is currently 2.3 days. Currently, 21.9% of the shares of the stock are short sold.
In other RetailMeNot news, SVP Steven T. Pho sold 1,300 shares of the company’s stock on the open market in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $25.58, for a total transaction of $33,254.00. The sale was disclosed in a document filed with the SEC, 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. 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $43.37.
Shares of RetailMeNot (NASDAQ:SALE) opened at 27.13 on Friday. RetailMeNot has a 52-week low of $22.45 and a 52-week high of $48.73. The stock’s 50-day moving average is $28.06 and its 200-day moving average is $32.60. The company has a market cap of $1.457 billion and a P/E ratio of 86.56.
RetailMeNot, Inc operates digital coupon marketplace, connecting consumers with retailers and brands.
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