Bosun Asset Management LLC Sells 54,623 Shares of The Real Brokerage Inc. $REAX

Key Points

• Bosun Asset Management LLC reduced its stake in The Real Brokerage Inc. by 12.9%, holding approximately 368,121 shares worth $1,495,000 as of the latest SEC filing.
• The Real Brokerage has initiated a $150 million share buyback program, indicating management's belief that the stock may be undervalued.
• Analysts maintain a generally positive outlook on REAX, with a consensus rating of "Buy" and an average price target of $6.33.

Bosun Asset Management LLC trimmed its stake in The Real Brokerage Inc. (NASDAQ:REAX - Free Report) by 12.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 368,121 shares of the company's stock after selling 54,623 shares during the period. Bosun Asset Management LLC owned about 0.19% of Real Brokerage worth $1,495,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of REAX. Barclays PLC grew its position in Real Brokerage by 17.4% in the fourth quarter. Barclays PLC now owns 165,764 shares of the company's stock valued at $762,000 after acquiring an additional 24,576 shares during the period. Mariner LLC acquired a new position in Real Brokerage in the fourth quarter worth $106,000. MetLife Investment Management LLC boosted its stake in Real Brokerage by 17.0% in the fourth quarter. MetLife Investment Management LLC now owns 66,463 shares of the company's stock worth $306,000 after purchasing an additional 9,662 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Real Brokerage by 98.0% in the fourth quarter. Hsbc Holdings PLC now owns 26,052 shares of the company's stock worth $122,000 after purchasing an additional 12,892 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Real Brokerage by 22.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,319 shares of the company's stock worth $181,000 after purchasing an additional 7,159 shares in the last quarter. 53.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

REAX has been the topic of a number of recent analyst reports. Jones Trading reissued a "buy" rating and issued a $6.00 price objective on shares of Real Brokerage in a research note on Thursday, August 7th. B. Riley initiated coverage on Real Brokerage in a research note on Wednesday, June 25th. They issued a "buy" rating and a $7.00 price objective on the stock. Finally, Wall Street Zen lowered Real Brokerage from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $6.33.

Real Brokerage Price Performance

Shares of REAX remained flat at $5.25 during trading hours on Friday. The stock had a trading volume of 4,055,123 shares, compared to its average volume of 2,355,938. The Real Brokerage Inc. has a twelve month low of $3.80 and a twelve month high of $6.61. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -105.00 and a beta of 1.05. The firm has a fifty day simple moving average of $4.41 and a two-hundred day simple moving average of $4.40.

Real Brokerage (NASDAQ:REAX - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter. Real Brokerage had a negative return on equity of 35.33% and a negative net margin of 0.78%.The business had revenue of $540.75 million for the quarter, compared to analyst estimates of $510.58 million. As a group, equities research analysts expect that The Real Brokerage Inc. will post -0.1 earnings per share for the current year.

Real Brokerage announced that its board has approved a share repurchase plan 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 plans are typically a sign that the company's management believes its stock is undervalued.

About Real Brokerage

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.