Shares of Magazine Luiza S.A. (OTC:MGLUY – Get Free Report) were down 10.2% on Thursday . The stock traded as low as $2.02 and last traded at $2.02. Approximately 10,021 shares changed hands during mid-day trading, an increase of 262% from the average daily volume of 2,768 shares. The stock had previously closed at $2.25.
Analyst Ratings Changes
Separately, JPMorgan Chase & Co. downgraded Magazine Luiza from an “overweight” rating to a “neutral” rating in a report on Friday, June 2nd.
Magazine Luiza Trading Down 10.2 %
Magazine Luiza Company Profile
Magazine Luiza SA engages in the retail sale of consumer goods. It operates through Retail, Financial Operations, Insurance Operations, and Other Services segments. The company also grants credit and provides extended warranties for its products. In addition, it is involved in the provision of consortium management services; and e-commerce of perfumes, cosmetics, sports, and fashion products, as well as product delivery management and software development services.
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