RMG Networks Holding Corporation Stock to Reverse Split on Tuesday, August 15th (NASDAQ:RMGN)
RMG Networks Holding Corporation (NASDAQ:RMGN) shares are scheduled to reverse split on Tuesday, August 15th. The 1-4 reverse split was announced on Tuesday, August 1st. The number of shares owned by shareholders will be adjusted after the market closes on Monday, August 14th.
Shares of RMG Networks Holding Corporation (RMGN) traded down 7.02% during mid-day trading on Monday, reaching $0.53. 59,485 shares of the company’s stock were exchanged. RMG Networks Holding Corporation has a 52-week low of $0.53 and a 52-week high of $1.11. The company’s 50-day moving average price is $0.69 and its 200 day moving average price is $0.75. The company’s market cap is $23.65 million.
RMG Networks Holding Corporation (NASDAQ:RMGN) last posted its earnings results on Thursday, August 3rd. The business services provider reported ($0.03) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.03). RMG Networks Holding Corporation had a negative net margin of 11.30% and a negative return on equity of 50.92%. The firm had revenue of $9.09 million during the quarter, compared to analyst estimates of $10.10 million. On average, equities research analysts predict that RMG Networks Holding Corporation will post ($0.06) EPS for the current year.
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RMGN has been the subject of several recent analyst reports. ValuEngine lowered shares of RMG Networks Holding Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 16th. Roth Capital set a $1.00 target price on shares of RMG Networks Holding Corporation and gave the stock a “buy” rating in a research note on Tuesday, August 1st.
A hedge fund recently raised its stake in RMG Networks Holding Corporation stock. Renaissance Technologies LLC raised its position in RMG Networks Holding Corporation (NASDAQ:RMGN) by 7.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 262,500 shares of the business services provider’s stock after buying an additional 18,300 shares during the period. Renaissance Technologies LLC owned 0.71% of RMG Networks Holding Corporation worth $188,000 at the end of the most recent reporting period. Institutional investors own 9.50% of the company’s stock.
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