Panagora Asset Management Inc. decreased its stake in shares of Rosetta Stone Inc (NYSE:RST) by 63.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,317 shares of the software maker’s stock after selling 60,240 shares during the period. Panagora Asset Management Inc.’s holdings in Rosetta Stone were worth $785,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Granite Investment Partners LLC lifted its position in shares of Rosetta Stone by 87.8% during the first quarter. Granite Investment Partners LLC now owns 128,377 shares of the software maker’s stock worth $2,805,000 after purchasing an additional 60,006 shares during the last quarter. TimesSquare Capital Management LLC lifted its holdings in Rosetta Stone by 4.6% in the first quarter. TimesSquare Capital Management LLC now owns 1,685,405 shares of the software maker’s stock worth $36,826,000 after acquiring an additional 74,680 shares during the last quarter. Stephens Investment Management Group LLC bought a new position in Rosetta Stone in the second quarter worth about $7,968,000. Cortina Asset Management LLC lifted its holdings in Rosetta Stone by 11.5% in the second quarter. Cortina Asset Management LLC now owns 249,052 shares of the software maker’s stock worth $5,698,000 after acquiring an additional 25,591 shares during the last quarter. Finally, Quantamental Technologies LLC bought a new position in Rosetta Stone in the first quarter worth about $46,000. 83.93% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the stock. ValuEngine cut shares of Rosetta Stone from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Barrington Research reissued a “buy” rating and issued a $29.00 target price on shares of Rosetta Stone in a report on Wednesday, August 7th. Zacks Investment Research raised shares of Rosetta Stone from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Tuesday, May 14th. Finally, Lake Street Capital raised their target price on shares of Rosetta Stone from $21.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Five research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average target price of $28.50.
NYSE RST traded up $0.80 during trading hours on Thursday, reaching $18.54. The company’s stock had a trading volume of 1,457 shares, compared to its average volume of 212,755. The business has a 50-day simple moving average of $21.41 and a 200 day simple moving average of $21.76. Rosetta Stone Inc has a 52 week low of $14.41 and a 52 week high of $26.88. The stock has a market cap of $436.16 million, a PE ratio of -19.05 and a beta of 0.22.
Rosetta Stone (NYSE:RST) last issued its earnings results on Tuesday, August 6th. The software maker reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.15. The business had revenue of $45.94 million during the quarter, compared to the consensus estimate of $44.50 million. As a group, sell-side analysts forecast that Rosetta Stone Inc will post -0.6 EPS for the current fiscal year.
In other news, insider Nicholas C. Gaehde sold 2,500 shares of Rosetta Stone stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $22.69, for a total transaction of $56,725.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 6,010 shares of company stock worth $141,211. Corporate insiders own 13.50% of the company’s stock.
About Rosetta Stone
Rosetta Stone Inc, together with its subsidiaries, provides technology-based learning products in the United States and internationally. It operates through three segments: Literacy, E&E Language, and Consumer Language. The company develops, markets, and supports a suite of language-learning, literacy, and brain fitness solutions consisting of Web-based software subscriptions, perpetual software products, online and professional services, audio practice products, and mobile applications.
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