Arrowstreet Capital Limited Partnership has acquired over 153,000 shares in The RealReal, along with a notable uptick in insider trading activities as the company navigates a challenging market landscape.
Arrowstreet Capital Limited Partnership has made a notable investment in The RealReal, Inc. (NASDAQ:REAL) by acquiring 153,519 shares of the company during the fourth quarter, which amounts to a valuation of approximately $1,678,000. This move is part of a broader trend, as various other hedge funds have also adjusted their positions in RealReal’s stock during the same period.
For instance, R Squared Ltd has entered the market with a new stake valued at $49,000, while Harvest Fund Management Co. Ltd has purchased a position worth about $94,000. Additionally, Charles Schwab Investment Management Inc. has expanded its interest by 3.4%, now holding a total of 284,876 shares worth approximately $3,114,000 after purchasing an additional 9,453 shares. Rhumbline Advisers has similarly increased its stake by 7.4%, now owning 143,743 shares valued at around $1,571,000 following the acquisition of an extra 9,893 shares. Jag Capital Management LLC has also purchased a new stake estimated at $126,000. Overall, institutional investors and hedge funds now collectively own 64.73% of the company’s stock.
In insider trading news, Luke Thomas Friang, an insider at RealReal, sold 18,503 shares on February 20 at an average price of $6.90 per share, resulting in a total value of approximately $127,670.70. Following this sale, Friang retains ownership of 556,557 shares valued at roughly $3,840,243.30, marking a 3.22% decrease in his stake. CFO Gopal Ajay Madan also sold a significant number of shares, with a transaction of 102,386 shares on the same date for a total of about $706,463.40. After this sale, Madan holds 1,327,198 shares valued at around $9,157,666.20, reflecting a 7.16% decrease in ownership. Over the past quarter, insiders have sold a total of 258,283 shares, valued at approximately $1,782,153, with insiders collectively owning 9.78% of the company’s stock.
As for RealReal’s market performance, shares opened at $5.14 on Friday, with the company having a market capitalization of approximately $571.81 million. The firm reports a P/E ratio of -3.98 and a beta of 2.90. Over recent months, its 50-day simple moving average stands at $6.44, while the 200-day average is at $6.34. The stock has experienced fluctuations in its valuation, reaching a twelve-month low of $2.24 and a high of $11.38.
The RealReal, Inc. recently released its quarterly earnings, reporting an earnings per share (EPS) of -$0.62, which fell short of analysts’ expectations by $0.52. The firm generated revenues of $164.00 million, slightly above the anticipated figure of $162.69 million. Market analysts forecast an EPS of -0.4 for the current fiscal year for The RealReal.
Moreover, the stock has been discussed extensively among analysts, with UBS Group adjusting its target price from $10.00 to $9.00 and assigning a “neutral” rating. In contrast, Northland Securities raised its price objective for RealReal from $6.50 to $12.50, giving the company an “outperform” rating. Overall, analysis indicates that the stock has garnered two hold ratings, four buy ratings, and one strong buy rating, resulting in an average rating of “Moderate Buy” with a price target of approximately $8.33.
Headquartered in San Francisco, California, The RealReal, Inc. operates an online marketplace specializing in the resale of luxury goods, including product categories such as women’s and men’s fashion, jewelry, and watches, predominantly through its online platform and retail stores. The company was incorporated in 2011 and has since developed a prominent presence in the luxury resale market.
Source: Noah Wire Services
