Ameriprise Financial Inc. Sells 206,761 Shares of The Real Brokerage Inc. (NASDAQ:REAX)

Ameriprise Financial Inc. decreased its holdings in shares of The Real Brokerage Inc. (NASDAQ:REAX - Free Report) by 93.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,038 shares of the company's stock after selling 206,761 shares during the period. Ameriprise Financial Inc.'s holdings in Real Brokerage were worth $65,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in REAX. Aquatic Capital Management LLC bought a new position in Real Brokerage during the fourth quarter worth about $25,000. Golden State Wealth Management LLC acquired a new stake in shares of Real Brokerage during the fourth quarter worth approximately $28,000. Oxford Asset Management LLP acquired a new stake in shares of Real Brokerage during the fourth quarter worth approximately $49,000. Townsquare Capital LLC acquired a new stake in shares of Real Brokerage during the fourth quarter worth approximately $65,000. Finally, US Bancorp DE acquired a new stake in shares of Real Brokerage during the fourth quarter worth approximately $85,000. Institutional investors own 53.28% of the company's stock.

Real Brokerage Trading Up 1.9%

NASDAQ REAX opened at $4.20 on Friday. The firm has a market cap of $830.57 million, a price-to-earnings ratio of -23.33 and a beta of 1.04. The company has a 50 day moving average of $4.35 and a 200-day moving average of $4.67. The Real Brokerage Inc. has a 1-year low of $3.55 and a 1-year high of $6.75.

Real Brokerage (NASDAQ:REAX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. The company had revenue of $353.98 million during the quarter, compared to analyst estimates of $332.92 million. Real Brokerage had a negative net margin of 2.91% and a negative return on equity of 73.22%. On average, analysts forecast that The Real Brokerage Inc. will post -0.1 earnings per share for the current year.

Real Brokerage declared that its board has authorized a stock repurchase program on Friday, May 30th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to buy up to 17.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, Jones Trading reaffirmed a "buy" rating and set a $6.00 price objective on shares of Real Brokerage in a report on Thursday, March 6th.

Real Brokerage Profile

The Real Brokerage Inc, together with its subsidiaries, operates as a real estate technology company in the United States and Canada. It operates in three segments: North American Brokerage, Real Title, and One Real Mortgage. It offers brokerage, title, and mortgage broker services. The company is based in Miami, Florida.

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