Global X Management Co. LLC boosted its stake in Renren Inc. (NYSE:RENN) by 249.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,399 shares of the technology company’s stock after buying an additional 34,531 shares during the period. Global X Management Co. LLC owned 0.10% of Renren worth $295,000 as of its most recent SEC filing.
Separately, KCG Holdings Inc. purchased a new position in shares of Renren during the first quarter valued at about $187,000. Institutional investors and hedge funds own 2.10% of the company’s stock.
Renren Inc. (NYSE RENN) opened at 8.23 on Monday. Renren Inc. has a one year low of $6.01 and a one year high of $12.50. The firm’s 50 day moving average price is $6.60 and its 200 day moving average price is $6.99. The stock’s market cap is $563.14 million.
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Separately, BidaskClub raised Renren from a “sell” rating to a “hold” rating in a report on Saturday.
About Renren
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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