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Buyers move on Demand Media, up 13.3% day after earnings

Mar. 06, 2015 5:20 PM ETLeaf Group Ltd. (LEAF) StockLEAFBy: Jason Aycock, SA News Editor
  • On a rough day for the market, one outlier was Demand Media (DMD), up 13.3% on several times average volume.
  • B. Riley reiterated its Buy rating on the stock, with a price target of $15. Shares closed today at $5.95.
  • The move up came in spite of Deutsche Bank lowering its own price target to $6 after the firm's Q4 report. The firm maintains a Hold rating on DMD.
  • During the company's Q4 conference call, along with highlighting the firm's new CFO, Demand noted the resignations of Gaurav Bhandari and Josh James from the board -- now at seven members, a smaller board making sense "in keeping with our message of focus and efficiency and the current size of our company."
  • CAO Peter Kim noted that while mobile traffic was down 9% Y/Y, mobile visits were up 63% across all properties "and accelerating."

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