Saba Capital Management L.P. Invests $2.73 Million in The RealReal, Inc. (NASDAQ:REAL)

Saba Capital Management L.P. purchased a new stake in shares of The RealReal, Inc. (NASDAQ:REAL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 250,008 shares of the company's stock, valued at approximately $2,733,000. Saba Capital Management L.P. owned about 0.23% of RealReal as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. Quarry LP boosted its holdings in shares of RealReal by 120.1% in the 4th quarter. Quarry LP now owns 2,875 shares of the company's stock valued at $31,000 after buying an additional 1,569 shares during the last quarter. R Squared Ltd bought a new stake in RealReal during the fourth quarter worth $49,000. Harvest Fund Management Co. Ltd bought a new stake in RealReal during the fourth quarter worth $94,000. Jag Capital Management LLC acquired a new stake in RealReal in the fourth quarter valued at $126,000. Finally, Olympiad Research LP bought a new position in shares of RealReal in the 4th quarter valued at about $136,000. 64.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, UBS Group raised their target price on shares of RealReal from $6.00 to $7.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, RealReal has an average rating of "Moderate Buy" and a consensus price target of $8.40.

RealReal Trading Up 4.7%

REAL stock traded up $0.24 during mid-day trading on Thursday, hitting $5.27. 1,598,672 shares of the company were exchanged, compared to its average volume of 3,414,197. The RealReal, Inc. has a 1-year low of $2.24 and a 1-year high of $11.38. The stock has a market capitalization of $595.44 million, a PE ratio of -4.08 and a beta of 2.61. The business has a 50 day simple moving average of $5.71 and a 200-day simple moving average of $6.84.

RealReal (NASDAQ:REAL - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The business had revenue of $160.03 million for the quarter, compared to analyst estimates of $159.98 million. Equities research analysts expect that The RealReal, Inc. will post -0.4 earnings per share for the current 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.