The Vanguard Group, Inc. recently announced the acquisition of new stake in Remark Holdings Inc. (NASDAQ:MARK). The institutional investor has increased its shareholding in the Communication Services company by 73.95% to 1.72 million shares with purchase of 0.73 million shares. This fresh investment now brings its stake to 1.73% valued currently at $2.67 million. In addition, Security Benefit Life Insurance C.. raised its holdings by 1.51 million to 1.51 million shares. And Susquehanna Financial Group LLLP has lifted its position by 7,144.05% or 1.17 million shares – to 1.18 million shares.
With over 2.57 million Remark Holdings Inc. (MARK) shares trading Friday and a closing price of $1.14 on the day, the dollar volume was approximately $2.93 million. The shares have shown a negative weekly performance of -8.06% and its price on 08/28/20 gained nearly 3.64%. Currently, there are 89.26M common shares owned by the public and among those 81.07M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for MARK have a consensus price objective of $4.25. The analysts have set the share’s price value over the next 12 months at a high of $4.25 and a low of $4.25 should the stock experience a downside. But an upside of 73.18% will see the stock hit the forecast high price target while mean target price for the stock is $4.25.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Remark Holdings Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market Index owns 1.18 million shares of the company’s stock, all valued at over $1.82 million. Fidelity Extended Market Index Fu now owns shares totaling to 0.18% of the shares outstanding.
Shares of Remark Holdings Inc. (NASDAQ: MARK) opened at $1.14, up $0.04 from a prior closing price of $1.10. However, the script later closed the day at $1.14, up 3.64%. The company’s stock has a 5-day price change of -8.06% and -52.70% over the past three months. MARK shares are trading 121.36% year to date (YTD), with the 12-month market performance up to 38.01% higher. It has a 12-month low price of $0.25 and touched a high of $3.56 over the same period. Currently, 2.57 million shares have been traded, compared to an average intraday trading volume of 13.41 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -21.22%, -32.39%, and 7.10% respectively.
Institutional ownership of Remark Holdings Inc. (NASDAQ: MARK) shares accounts for 10.00% of the company’s 89.26M shares outstanding. Mutual fund holders own 2.40%, while other institutional holders and individual stakeholders account for 6.73% and 11.30% respectively.
It has a market capitalization of $109.30M and a beta (3y monthly) value of 2.96. The earnings-per-share (ttm) stands at -$0.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.32% over the week and 11.74% over the month.
Analysts forecast that Remark Holdings Inc. (MARK) will achieve an EPS of -$0.04 for the current quarter, -$0.05 for the next quarter and -$0.21 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.04 while analysts give the company a high EPS estimate of -$0.04. Comparatively, EPS for the current quarter was -$0.11 a year ago. Earnings per share for the fiscal year are expected to decrease by -8.90%, and 12.50% over the next financial year.
Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MARK, a number of firms have released research notes about the stock. ROTH Capital stated their Buy rating for the stock in a research note on January 31, 2018, with the firm’s price target at $10.25-$20.50. ROTH Capital coverage for the Remark Holdings Inc. (MARK) stock in a research note released on October 13, 2016 offered a Buy rating with a price target of $8.50.