The Real Brokerage Inc. $REAX Shares Sold by Bank of America Corp DE

Key Points

• Bank of America cut its Real Brokerage stake by 30.3% in the first quarter, selling 149,285 shares and retaining 343,847 shares valued at approximately $860,000. Institutional investors and hedge funds collectively own 53.28% of the company.
• Real Brokerage reported a quarterly loss of $0.30 per share on $700.58 million in revenue, with a negative net margin and return on equity. Analysts expect a full-year loss of approximately $0.45 per share.
• REAX opened at $18.67, well below its 50-day and 200-day moving averages, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $50.00.

Bank of America Corp DE reduced its stake in The Real Brokerage Inc. (NASDAQ:REAX - Free Report) by 30.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 343,847 shares of the company's stock after selling 149,285 shares during the quarter. Bank of America Corp DE owned approximately 0.16% of Real Brokerage worth $860,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ophir Asset Management Pty Ltd grew its stake in shares of Real Brokerage by 24.9% in the 4th quarter. Ophir Asset Management Pty Ltd now owns 3,952,949 shares of the company's stock valued at $14,428,000 after buying an additional 787,330 shares during the period. Renaissance Technologies LLC raised its position in shares of Real Brokerage by 7.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,128,900 shares of the company's stock valued at $7,770,000 after buying an additional 143,100 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Real Brokerage by 310.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,127,804 shares of the company's stock valued at $8,894,000 after buying an additional 1,608,941 shares during the period. Nuveen LLC lifted its holdings in Real Brokerage by 104.5% in the fourth quarter. Nuveen LLC now owns 2,071,744 shares of the company's stock valued at $7,562,000 after acquiring an additional 1,058,670 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Real Brokerage by 47.2% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,910,311 shares of the company's stock valued at $6,973,000 after acquiring an additional 612,291 shares during the last quarter. 53.28% of the stock is owned by institutional investors and hedge funds.

Real Brokerage Stock Performance

REAX opened at $18.67 on Monday. The stock's 50-day moving average price is $20.93 and its 200 day moving average price is $21.62. The Real Brokerage Inc. has a 12-month low of $15.50 and a 12-month high of $54.05. The firm has a market cap of $406.82 million, a price-to-earnings ratio of -26.67 and a beta of 0.79.

Real Brokerage (NASDAQ:REAX - Get Free Report) last released its earnings results on Tuesday, June 30th. The company reported ($0.30) earnings per share for the quarter. The firm had revenue of $700.58 million during the quarter. Real Brokerage had a negative net margin of 0.72% and a negative return on equity of 25.32%. On average, research analysts forecast that The Real Brokerage Inc. will post -0.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on REAX shares. JonesTrading raised their target price on Real Brokerage from $4.00 to $40.00 and gave the stock a "buy" rating in a research note on Tuesday, August 25th. Edward Jones lowered their price target on Real Brokerage from $50.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, August 6th. BTIG Research reissued a "buy" rating and set a $35.00 price objective (up from $4.25) on shares of Real Brokerage in a research report on Thursday, August 27th. Zacks Research lowered shares of Real Brokerage from a "hold" rating to a "strong sell" rating in a report on Friday, August 7th. Finally, Zelman & Associates raised shares of Real Brokerage to an "outperform" rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $50.00.

Real Brokerage Profile

Real Brokerage Inc is a publicly traded, cloud-based residential real estate brokerage headquartered in Toronto, Canada, with operations across the United States and Canada. The company’s platform offers licensed real estate professionals a fully integrated suite of digital tools designed to streamline every phase of the property transaction process, from lead generation to closing.

Through its proprietary technology, Real Brokerage provides agents with transaction management, customer relationship management, digital marketing automation and real-time analytics in a single, user-friendly interface.

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.