Remark Media, Inc. (MARK) Trading Down 6.8%
Remark Media, Inc. (NASDAQ:MARK)’s share price dropped 6.8% during trading on Tuesday . The company traded as low as $6.79 and last traded at $7.15. Approximately 2,243,120 shares traded hands during mid-day trading, an increase of 777% from the average daily volume of 255,807 shares. The stock had previously closed at $7.67.
MARK has been the subject of a number of recent research reports. Roth Capital set a $8.00 price objective on shares of Remark Media and gave the stock a “buy” rating in a research note on Wednesday, August 9th. ValuEngine raised shares of Remark Media from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st.
A hedge fund recently bought a new stake in Remark Media stock. Cannell Peter B & Co. Inc. purchased a new stake in Remark Media, Inc. (NASDAQ:MARK) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 229,627 shares of the information services provider’s stock, valued at approximately $643,000. Cannell Peter B & Co. Inc. owned about 1.01% of Remark Media as of its most recent filing with the Securities and Exchange Commission (SEC). 11.46% of the stock is owned by hedge funds and other institutional investors.
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About Remark Media
Remark Holdings, Inc, formerly Remark Media, Inc, owns, operates and acquires digital media properties across multiple verticals. The Company operates through the travel and entertainment segment. The travel and entertainment segment includes the Vegas.com and its Roomlia mobile application. The Company is engaged in the sale of various travel and entertainment products, including air travel, show tickets and tours, which are booked through its travel and entertainment segment, consisting of Vegas.com and its related Websites, including LasVegas.com, mobile applications and retail locations.
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