Stock Traders Purchase High Volume of Put Options on Renren (RENN)
Renren Inc (NYSE:RENN) saw unusually large options trading on Thursday. Stock traders bought 2,504 put options on the company. This is an increase of approximately 2,004% compared to the typical daily volume of 119 put options.
Renren (NYSE:RENN) opened at $12.99 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.30 and a debt-to-equity ratio of 0.11. Renren has a 1-year low of $6.01 and a 1-year high of $18.70. The company has a market capitalization of $889.40, a P/E ratio of -1.19 and a beta of 0.78.
A number of large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its position in shares of Renren by 108.1% during the 2nd quarter. SG Americas Securities LLC now owns 122,259 shares of the technology company’s stock worth $745,000 after purchasing an additional 63,522 shares during the period. Northern Trust Corp raised its position in shares of Renren by 48.5% during the 2nd quarter. Northern Trust Corp now owns 29,146 shares of the technology company’s stock worth $177,000 after purchasing an additional 9,523 shares during the period. State Street Corp raised its position in shares of Renren by 6.3% during the 2nd quarter. State Street Corp now owns 52,288 shares of the technology company’s stock worth $319,000 after purchasing an additional 3,105 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of Renren during the 2nd quarter worth approximately $187,000. Finally, Newman Dignan & Sheerar Inc. acquired a new stake in shares of Renren during the 3rd quarter worth approximately $111,000. 2.41% of the stock is currently owned by institutional investors.
Renren Company Profile
Renren Inc operates a real name social networking Internet platform in China. The Company enables users to connect and communicate with each other, share photos, and various features and services. The Company is developing Internet finance business to leverage its social networking services and user base in China, particularly focusing on the audience of college students and young people in China.
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