RMG Networks (NASDAQ:RMGN) Cut to “Sell” at Zacks Investment Research

RMG Networks (NASDAQ:RMGN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday, November 11th.

According to Zacks, “RMG Networks Holding Corporation operates as a digital signage company. Its business units offers content and advertising delivered through digital place-based networks, including digital airline media networks and mall media networks. The Company’s suite of products includes media services, software, software-embedded hardware, technical services and third-party displays. RMG Networks Holding Corporation, formerly known as SCG Financial Acquisition Corp., is based in Plano, Texas. “

A number of other brokerages also recently commented on RMGN. ValuEngine downgraded shares of RMG Networks from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Roth Capital set a $4.00 price target on shares of RMG Networks and gave the stock a “buy” rating in a report on Tuesday, August 1st.

Shares of RMG Networks (NASDAQ RMGN) traded down $0.02 during midday trading on Friday, hitting $0.95. 78,555 shares of the stock were exchanged, compared to its average volume of 23,291. RMG Networks has a 1-year low of $0.91 and a 1-year high of $4.44.

A hedge fund recently raised its stake in RMG Networks stock. Renaissance Technologies LLC increased its stake in RMG Networks Holding Corporation (NASDAQ:RMGN) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 267,100 shares of the business services provider’s stock after acquiring an additional 4,600 shares during the period. Renaissance Technologies LLC owned approximately 0.60% of RMG Networks worth $210,000 as of its most recent SEC filing. Institutional investors own 1.97% of the company’s stock.

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About RMG Networks

RMG Networks Holding Corporation provides enterprise-class digital signage solutions. It offers suite of products, including proprietary software, software-embedded hardware, maintenance and support services, content and creative services, installation services, and third-party displays. The company provides Enterprise Server (ES), a robust software application server used to collect content from various applications and other data sources; and Media Players/Smart Digital Appliances, which are software pre-loaded media players that function as the content storage and rendering hardware between its ES content engine and the visual display end-points.

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