Connor Clark & Lunn Investment Management Ltd. Buys New Shares in The RealReal, Inc. (NASDAQ:REAL)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of The RealReal, Inc. (NASDAQ:REAL) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 678,889 shares of the company’s stock, valued at approximately $3,659,000.

Several other institutional investors have also recently bought and sold shares of REAL. Alliancebernstein L.P. raised its holdings in RealReal by 88.9% during the fourth quarter. Alliancebernstein L.P. now owns 100,850 shares of the company’s stock worth $1,102,000 after buying an additional 47,450 shares during the last quarter. Geode Capital Management LLC raised its holdings in RealReal by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 2,327,782 shares of the company’s stock worth $25,447,000 after buying an additional 33,927 shares during the last quarter. Wells Fargo & Company MN raised its holdings in RealReal by 31.5% during the fourth quarter. Wells Fargo & Company MN now owns 102,917 shares of the company’s stock worth $1,125,000 after buying an additional 24,669 shares during the last quarter. Invesco Ltd. grew its stake in shares of RealReal by 413.4% in the 4th quarter. Invesco Ltd. now owns 1,053,911 shares of the company’s stock worth $11,519,000 after acquiring an additional 848,640 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of RealReal in the 4th quarter worth $3,895,000. Institutional investors and hedge funds own 64.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. B. Riley reiterated a “buy” rating and issued a $9.00 target price (up previously from $8.00) on shares of RealReal in a research note on Friday, August 8th. UBS Group set a $8.00 target price on shares of RealReal and gave the stock a “neutral” rating in a research note on Friday, August 8th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $11.13.

RealReal Stock Performance

REAL opened at $7.80 on Thursday. The firm has a market cap of $898.87 million, a P/E ratio of -7.36 and a beta of 2.48. The firm has a 50-day moving average of $5.54 and a 200 day moving average of $6.03. The RealReal, Inc. has a fifty-two week low of $2.24 and a fifty-two week high of $11.38.

RealReal (NASDAQ:REAL) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.02. The company had revenue of $165.19 million for the quarter, compared to the consensus estimate of $159.17 million. Equities research analysts predict that The RealReal, Inc. will post -0.4 earnings per share for the current fiscal year.

RealReal Company Profile

The RealReal, Inc operates an online marketplace for resale luxury goods in the United State. The company offers various product categories, including women's fashion, men's fashion, jewelry, and watches. It primarily sells products through online marketplace and retail stores. The company was incorporated in 2011 and is headquartered in San Francisco, California.