Kanen Wealth Management LLC decreased its holdings in The RealReal, Inc. (NASDAQ:REAL – Free Report) by 25.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,391,907 shares of the company’s stock after selling 466,403 shares during the period. RealReal comprises approximately 4.5% of Kanen Wealth Management LLC’s portfolio, making the stock its 7th largest position. Kanen Wealth Management LLC’s holdings in RealReal were worth $12,639,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Penn Capital Management Company LLC grew its stake in RealReal by 13.0% during the 4th quarter. Penn Capital Management Company LLC now owns 1,336,674 shares of the company’s stock worth $21,112,000 after purchasing an additional 153,806 shares in the last quarter. Polen Capital Management LLC raised its position in RealReal by 142.9% in the 4th quarter. Polen Capital Management LLC now owns 175,088 shares of the company’s stock valued at $2,763,000 after purchasing an additional 103,000 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in RealReal in the 4th quarter valued at about $3,188,000. Fifth Third Bancorp purchased a new position in shares of RealReal in the 1st quarter valued at about $2,270,000. Finally, Tudor Investment Corp ET AL boosted its stake in shares of RealReal by 25.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 689,998 shares of the company’s stock valued at $7,335,000 after buying an additional 141,699 shares during the period. Hedge funds and other institutional investors own 64.73% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on REAL. Wall Street Zen downgraded RealReal from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RealReal in a research note on Friday, July 17th. BTIG Research reiterated a “buy” rating and set a $17.00 price target on shares of RealReal in a report on Wednesday, June 3rd. Robert W. Baird set a $13.00 price objective on shares of RealReal in a research report on Friday, May 8th. Finally, Roth Capital set a $17.00 price objective on shares of RealReal in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.25.
RealReal Stock Up 2.3%
Shares of REAL opened at $11.93 on Wednesday. The stock has a 50 day moving average price of $10.81 and a 200 day moving average price of $11.47. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -11.70 and a beta of 2.66. The RealReal, Inc. has a 52-week low of $5.00 and a 52-week high of $17.39.
RealReal (NASDAQ:REAL – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $189.72 million for the quarter, compared to analyst estimates of $187.82 million. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.08) EPS. On average, equities analysts anticipate that The RealReal, Inc. will post -0.14 EPS for the current fiscal year.
Insider Transactions at RealReal
In related news, CFO Gopal Ajay Madan sold 35,023 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $9.25, for a total value of $323,962.75. Following the completion of the sale, the chief financial officer directly owned 1,145,278 shares of the company’s stock, valued at $10,593,821.50. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Todd A. Suko sold 17,353 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $9.25, for a total transaction of $160,515.25. Following the completion of the transaction, the insider owned 605,394 shares of the company’s stock, valued at $5,599,894.50. This represents a 2.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 166,830 shares of company stock worth $1,543,178. Insiders own 2.66% of the company’s stock.
About RealReal
The RealReal, Inc (NASDAQ: REAL) operates an online marketplace specializing in the authenticated resale of luxury goods. Since its founding in 2011 by entrepreneur Julie Wainwright, the company has positioned itself as a leading platform for consignors and shoppers seeking designer fashion, fine jewelry, watches, art, and home décor. Headquartered in San Francisco, The RealReal combines e-commerce technology with an in-house team of experts to offer a seamless buying and selling experience for secondhand luxury items.
At the core of The RealReal’s business model is its consignment service, which enables individuals to sell pre-owned luxury products through a fully managed process.
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