Penbrook Management Lowers stake in ReachLocal (RLOC)

ReachLocal (RLOC) : Penbrook Management reduced its stake in ReachLocal by 16.51% during the most recent quarter end. The investment management company now holds a total of 40,460 shares of ReachLocal which is valued at $78,492 after selling 8,000 shares in ReachLocal , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.ReachLocal makes up approximately 0.08% of Penbrook Management’s portfolio.

ReachLocal closed down -0.06 points or -3.16% at $1.84 with 2,337 shares getting traded on Wednesday. Post opening the session at $1.87, the shares hit an intraday low of $1.84 and an intraday high of $1.94 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including ,

On the company’s financial health, ReachLocal reported $0.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.38 according to the earnings call on Feb 25, 2016. Analyst had a consensus of $-0.37. The company had revenue of $88.98 million for the quarter, compared to analysts expectations of $90.14 million. The company’s revenue was down -18.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.61 EPS.

ReachLocal Inc. (ReachLocal) offers a technology suite of online marketing and reporting solutions designed to deliver efficacy and insight to its clients. The Company’s total digital marketing solution consists of products and solutions in three categories: software (ReachEdge and Kickserv) digital advertising (including ReachSearch ReachDisplay and ReachRetargeting) and Web presence (including ReachSite + ReachEdge ReachSEO ReachCast and TotalLiveChat). The Company’s software products are designed to enable its clients to assess the efficacy of marketing efforts and to facilitate interactions with the customers. The Company’s digital advertising products are designed to drive customers to its clients. The Company’s suite of Web presence products are designed to enhance the profile of its clients on the Internet.

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