PDT Partners LLC Boosts Stock Holdings in The Real Brokerage Inc. $REAX

Key Points

• PDT Partners LLC increased its stake in The Real Brokerage Inc. by 180.8% in Q1, now owning approximately 146,778 shares worth around $596,000.
• The company has implemented a $150 million share buyback plan, indicating the board's belief that the stock is undervalued.
• Despite reporting positive quarterly revenue exceeding analyst expectations, the company continues to operate with a negative net margin of 0.78% and predictions of -0.1 earnings per share for the current fiscal year.

PDT Partners LLC raised its holdings in shares of The Real Brokerage Inc. (NASDAQ:REAX - Free Report) by 180.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,778 shares of the company's stock after acquiring an additional 94,501 shares during the quarter. PDT Partners LLC owned about 0.07% of Real Brokerage worth $596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. New York State Teachers Retirement System bought a new position in shares of Real Brokerage in the first quarter worth $37,000. Diversified Trust Co bought a new position in shares of Real Brokerage in the first quarter worth $47,000. Golden State Wealth Management LLC increased its holdings in shares of Real Brokerage by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 12,000 shares of the company's stock worth $49,000 after purchasing an additional 6,000 shares during the period. Corton Capital Inc. bought a new position in shares of Real Brokerage in the fourth quarter worth $51,000. Finally, Trexquant Investment LP bought a new position in shares of Real Brokerage in the first quarter worth $58,000. Institutional investors own 53.28% of the company's stock.

Real Brokerage Stock Performance

REAX traded down $0.04 during trading on Wednesday, reaching $5.10. The stock had a trading volume of 419,401 shares, compared to its average volume of 1,146,420. The stock has a market cap of $1.01 billion, a PE ratio of -101.90 and a beta of 1.05. The Real Brokerage Inc. has a one year low of $3.80 and a one year high of $6.61. The business has a 50-day moving average of $4.44 and a 200-day moving average of $4.40.

Real Brokerage (NASDAQ:REAX - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.01 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 analysts' expectations of $510.58 million. Equities research analysts forecast that The Real Brokerage Inc. will post -0.1 EPS for the current fiscal year.

Real Brokerage announced that its board has initiated a stock repurchase plan on Friday, May 30th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to repurchase up to 17.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

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

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.