The Real Brokerage Inc. (NASDAQ:REAX) Position Reduced by Ameriprise Financial Inc.

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

A number of other large investors also recently made changes to their positions in the business. Golden State Wealth Management LLC acquired a new stake in shares of Real Brokerage during the fourth quarter valued at about $28,000. Rhumbline Advisers grew its stake in shares of Real Brokerage by 4.1% during the fourth quarter. Rhumbline Advisers now owns 124,324 shares of the company's stock valued at $572,000 after acquiring an additional 4,906 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Real Brokerage by 11.0% during the fourth quarter. Principal Financial Group Inc. now owns 80,434 shares of the company's stock valued at $370,000 after acquiring an additional 7,967 shares in the last quarter. US Bancorp DE acquired a new stake in shares of Real Brokerage during the fourth quarter valued at about $85,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Real Brokerage by 48.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 438,295 shares of the company's stock valued at $2,016,000 after acquiring an additional 144,011 shares in the last quarter. Hedge funds and other institutional investors own 53.28% of the company's stock.

Analysts Set New Price Targets

Separately, Jones Trading reiterated a "buy" rating and issued a $6.00 price target on shares of Real Brokerage in a research note on Thursday, March 6th.

Real Brokerage Stock Performance

Shares of REAX traded down $0.08 during mid-day trading on Wednesday, reaching $4.17. 1,995,945 shares of the company's stock traded hands, compared to its average volume of 922,882. The business's 50-day moving average price is $4.35 and its 200-day moving average price is $4.65. The stock has a market capitalization of $824.63 million, a P/E ratio of -23.17 and a beta of 1.04. The Real Brokerage Inc. has a 12 month low of $3.55 and a 12 month high of $6.75.

Real Brokerage (NASDAQ:REAX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. The company had revenue of $353.98 million for the quarter, compared to analysts' expectations of $332.92 million. Real Brokerage had a negative return on equity of 73.22% and a negative net margin of 2.91%. Equities research analysts anticipate that The Real Brokerage Inc. will post -0.1 EPS for the current year.

Real Brokerage announced that its board has authorized a share buyback plan on Friday, May 30th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 17.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Real Brokerage Company 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.