Nationwide Fund Advisors cut its position in shares of RetailMeNot Inc. (NASDAQ:SALE) by 3.5% during the second quarter, Holdings Channel reports. The firm owned 380,268 shares of the company’s stock after selling 13,668 shares during the period. Nationwide Fund Advisors owned 0.78% of RetailMeNot worth $2,932,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of RetailMeNot by 17.0% in the second quarter. JPMorgan Chase & Co. now owns 4,071,583 shares of the company’s stock worth $31,392,000 after buying an additional 592,163 shares during the period. Alambic Investment Management L.P. acquired a new position in shares of RetailMeNot during the second quarter worth about $352,000. Oxford Asset Management raised its position in shares of RetailMeNot by 407.2% in the second quarter. Oxford Asset Management now owns 281,855 shares of the company’s stock worth $2,173,000 after buying an additional 226,283 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of RetailMeNot during the second quarter worth about $1,931,000. Finally, Rothschild Asset Management Inc. raised its position in shares of RetailMeNot by 18.4% in the second quarter. Rothschild Asset Management Inc. now owns 232,457 shares of the company’s stock worth $1,792,000 after buying an additional 36,075 shares during the period. Institutional investors and hedge funds own 78.25% of the company’s stock.
Shares of RetailMeNot Inc. (NASDAQ:SALE) traded down 1.78% during mid-day trading on Friday, hitting $9.40. 229,065 shares of the stock traded hands. The stock has a market cap of $457.55 million, a price-to-earnings ratio of 53.71 and a beta of 0.78. RetailMeNot Inc. has a 52 week low of $5.52 and a 52 week high of $12.93. The firm’s 50-day moving average is $10.86 and its 200-day moving average is $8.84.
RetailMeNot (NASDAQ:SALE) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.06. RetailMeNot had a return on equity of 4.35% and a net margin of 3.49%. The company earned $64.20 million during the quarter, compared to analyst estimates of $62.89 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. RetailMeNot’s revenue was up 20.7% on a year-over-year basis. On average, analysts forecast that RetailMeNot Inc. will post $0.59 earnings per share for the current year.
A number of research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of RetailMeNot from a “buy” rating to a “hold” rating in a report on Wednesday. Boenning Scattergood started coverage on shares of RetailMeNot in a report on Thursday, September 29th. They set a “neutral” rating for the company. Stifel Nicolaus lowered shares of RetailMeNot from a “hold” rating to a “sell” rating and set a $9.00 price target for the company. in a report on Monday, September 26th. Loop Capital started coverage on shares of RetailMeNot in a report on Tuesday, September 13th. They set a “hold” rating and a $11.00 price target for the company. Finally, Morgan Stanley lowered shares of RetailMeNot from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $11.49 to $8.60 in a report on Monday, September 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. RetailMeNot currently has an average rating of “Hold” and an average target price of $12.46.
RetailMeNot Inc operates a digital savings destination connecting consumers with retailers, restaurants and brands, both online and in-store. The Company’s marketplace features over 800,000 digital offers each month. The Company’s Websites, mobile applications, e-mail newsletters and alerts and social media presence enable consumers to search for, discover and redeem digital offers from retailers and brands.
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