Kanen Wealth Management LLC Sells 466,403 Shares of The RealReal, Inc. $REAL

Key Points

• Kanen Wealth Management cut its RealReal stake by 25.1%, selling 466,403 shares in the first quarter but retaining 1.39 million shares worth approximately $12.6 million. Institutional investors and hedge funds collectively own 64.73% of the company.
• RealReal reported quarterly revenue of $189.72 million, up 18.5% year over year, and an adjusted loss of $0.01 per share that matched analyst expectations. Analysts expect a full-year loss of $0.14 per share.
• Analyst sentiment remains mixed but leans positive, with the stock carrying a consensus “Moderate Buy” rating and a $17.25 average price target, compared with its recent price of $11.93. Company insiders, including the CEO, sold 166,830 shares over the past three months.

Kanen Wealth Management LLC lowered its position in The RealReal, Inc. (NASDAQ:REAL - Free Report) by 25.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,391,907 shares of the company's stock after selling 466,403 shares during the quarter. RealReal comprises about 4.5% of Kanen Wealth Management LLC's holdings, making the stock its 7th biggest holding. Kanen Wealth Management LLC owned approximately 1.16% of RealReal worth $12,639,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of REAL. KBC Group NV acquired a new position in RealReal in the 1st quarter valued at about $26,000. Quarry LP purchased a new stake in shares of RealReal in the 3rd quarter valued at approximately $28,000. Larson Financial Group LLC acquired a new stake in shares of RealReal during the 3rd quarter worth approximately $31,000. Gables Capital Management Inc. acquired a new stake in shares of RealReal during the 1st quarter worth approximately $35,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of RealReal by 25.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,253 shares of the company's stock valued at $57,000 after buying an additional 1,253 shares during the period. 64.73% of the stock is currently owned by institutional investors and hedge funds.

RealReal Stock Performance

RealReal stock opened at $11.93 on Wednesday. The company's 50 day simple moving average is $10.81 and its 200-day simple moving average is $11.47. The RealReal, Inc. has a 1 year low of $5.00 and a 1 year high of $17.39. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -11.70 and a beta of 2.66.

RealReal (NASDAQ:REAL - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $189.72 million during the quarter, compared to analyst estimates of $187.82 million. The firm's revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.08) EPS. Equities analysts expect that The RealReal, Inc. will post -0.14 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Levesque Rati Sahi sold 81,194 shares of the business's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $9.25, for a total value of $751,044.50. Following the sale, the chief executive officer owned 1,581,276 shares in the company, valued at approximately $14,626,803. The trade was a 4.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Luke Thomas Friang sold 21,183 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $9.25, for a total value of $195,942.75. Following the transaction, the insider directly owned 530,676 shares in the company, valued at approximately $4,908,753. The trade was a 3.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 166,830 shares of company stock valued at $1,543,178. Insiders own 2.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Robert W. Baird set a $13.00 price objective on RealReal in a report on Friday, May 8th. UBS Group reissued a "buy" rating on shares of RealReal in a research note on Wednesday, June 3rd. Wall Street Zen downgraded RealReal from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. BTIG Research reaffirmed a "buy" rating and issued a $17.00 price target on shares of RealReal in a research note on Wednesday, June 3rd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of RealReal in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $17.25.

RealReal Profile

The RealReal, Inc NASDAQ: REAL operates an online marketplace specializing in the authenticated resale of luxury goods. Since its founding in 2011 by entrepreneur Julie Wainwright, the company has positioned itself as a leading platform for consignors and shoppers seeking designer fashion, fine jewelry, watches, art, and home décor. Headquartered in San Francisco, The RealReal combines e-commerce technology with an in-house team of experts to offer a seamless buying and selling experience for secondhand luxury items.

At the core of The RealReal's business model is its consignment service, which enables individuals to sell pre-owned luxury products through a fully managed process.

Want to see what other hedge funds are holding REAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The RealReal, Inc. (NASDAQ:REAL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.