Renren Inc. (NYSE:RENN – Get Rating) major shareholder Group Corp. Softbank sold 152,870,520 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $0.03, for a total transaction of $4,586,115.60. Following the transaction, the insider now directly owns 117,388,451 shares in the company, valued at $3,521,653.53. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Renren Stock Performance
Shares of NYSE:RENN traded down $0.02 on Thursday, reaching $0.95. 48,307 shares of the company were exchanged, compared to its average volume of 96,044. Renren Inc. has a 1-year low of $0.91 and a 1-year high of $33.91. The company has a 50-day moving average of $1.22 and a 200-day moving average of $8.70.
Analyst Ratings Changes
Separately, StockNews.com began coverage on shares of Renren in a research note on Sunday. They set a “hold” rating on the stock.
Hedge Funds Weigh In On Renren
Renren Company Profile
Renren, Inc engages in the Software as a Service (SaaS) business, which includes an all-in-one real estate solution provider and a large community for the trucking industry in the United States. The company was founded by Chen Yi Zhou in November 2002 and is headquartered in Phoenix, AZ.
- Get a free copy of the StockNews.com research report on Renren (RENN)
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