Jacobs Levy Equity Management Inc. Acquires 259,334 Shares of The Real Brokerage Inc. $REAX

Key Points

• Jacobs Levy Equity Management Inc. has increased its stake in The Real Brokerage Inc. by 33.4%, now holding over 1 million shares valued at approximately $4.2 million.
• The Real Brokerage's stock price has seen a decline of 3.2%, currently trading at $5.08, despite the company having a significant stock repurchase plan approved for up to $150 million.
• Research analysts have mixed views on the stock, with a consensus rating of "Buy" and an average target price of $6.33, while one analyst downgraded it from "buy" to "hold".

Jacobs Levy Equity Management Inc. grew its stake in shares of The Real Brokerage Inc. (NASDAQ:REAX - Free Report) by 33.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,036,363 shares of the company's stock after purchasing an additional 259,334 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.52% of Real Brokerage worth $4,208,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in shares of Real Brokerage by 1.4% during the first quarter. Bank of New York Mellon Corp now owns 254,242 shares of the company's stock valued at $1,032,000 after purchasing an additional 3,436 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Real Brokerage by 8.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,927 shares of the company's stock valued at $262,000 after purchasing an additional 4,672 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Real Brokerage by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 12,000 shares of the company's stock valued at $49,000 after purchasing an additional 6,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Real Brokerage by 22.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,319 shares of the company's stock valued at $181,000 after purchasing an additional 7,159 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its holdings in shares of Real Brokerage by 52.3% during the first quarter. Avantax Advisory Services Inc. now owns 22,206 shares of the company's stock valued at $90,000 after purchasing an additional 7,621 shares during the last quarter. 53.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. B. Riley assumed coverage on shares of Real Brokerage in a report on Wednesday, June 25th. They set a "buy" rating and a $7.00 price objective for the company. Wall Street Zen cut shares of Real Brokerage from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Jones Trading reaffirmed a "buy" rating and set a $6.00 target price on shares of Real Brokerage in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $6.33.

Real Brokerage Trading Down 2.7%

Shares of REAX stock traded down $0.14 during trading hours on Friday, reaching $4.97. 2,488,484 shares of the stock were exchanged, compared to its average volume of 1,177,195. The Real Brokerage Inc. has a 12-month low of $3.80 and a 12-month high of $6.61. The company's 50-day moving average price is $4.47 and its 200-day moving average price is $4.41. The firm has a market capitalization of $982.82 million, a price-to-earnings ratio of -99.40 and a beta of 1.05.

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

Real Brokerage announced that its Board of Directors has authorized a share repurchase plan on Friday, May 30th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to reacquire up to 17.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

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.