RetailMeNot Shares Down 2.6% Following Insider Selling (SALE)
RetailMeNot (NASDAQ:SALE)’s share price traded down 2.6% during trading on Wednesday after an insider sold shares in the company, AR Network reports. The company traded as low as $26.79 and last traded at $27.52, with a volume of 886,281 shares changing hands. The stock had previously closed at $28.26.
Specifically, CFO Douglas C. Jeffries sold 5,500 shares of the stock on the open market in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $27.32, for a total value of $150,260.00. The transaction 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 Zacks downgraded shares of RetailMeNot from a “neutral” rating to an “underperform” rating in a research note on Tuesday. They now have a $26.50 price target on the stock. Separately, 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. Finally, 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $41.21.
The stock has a 50-day moving average of $27.86 and a 200-day moving average of $32.60. The company has a market cap of $1.512 billion and a price-to-earnings ratio of 91.75.
RetailMeNot, Inc operates digital coupon marketplace, connecting consumers with retailers and brands.
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