Real Brokerage (NASDAQ:REAX) Trading Up 7.7% - What's Next?

The Real Brokerage Inc. (NASDAQ:REAX - Get Free Report)'s share price was up 7.7% during mid-day trading on Monday . The company traded as high as $4.12 and last traded at $4.14. Approximately 614,283 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 881,702 shares. The stock had previously closed at $3.84.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. B. Riley initiated coverage on Real Brokerage in a report on Wednesday, June 25th. They set a "buy" rating and a $7.00 price target for the company. Wall Street Zen raised Real Brokerage from a "hold" rating to a "buy" rating in a research report on Friday.

Real Brokerage Stock Up 8.1%

The company has a market cap of $820.66 million, a price-to-earnings ratio of -59.29 and a beta of 1.04. The firm's 50 day simple moving average is $4.19 and its 200 day simple moving average is $4.48.

Real Brokerage (NASDAQ:REAX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.03. The business had revenue of $353.98 million during the quarter, compared to the consensus estimate of $332.92 million. Real Brokerage had a negative net margin of 1.09% and a negative return on equity of 49.13%. Analysts anticipate that The Real Brokerage Inc. will post -0.1 EPS for the current fiscal year.

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

Hedge Funds Weigh In On Real Brokerage

Several institutional investors have recently made changes to their positions in REAX. Nuveen LLC purchased a new position in shares of Real Brokerage during the 1st quarter worth $4,660,000. Jacobs Levy Equity Management Inc. purchased a new position in Real Brokerage in the fourth quarter valued at about $3,574,000. Renaissance Technologies LLC lifted its holdings in Real Brokerage by 53.5% during the 4th quarter. Renaissance Technologies LLC now owns 759,100 shares of the company's stock worth $3,492,000 after buying an additional 264,600 shares during the last quarter. Shay Capital LLC increased its position in Real Brokerage by 69.3% in the 4th quarter. Shay Capital LLC now owns 533,285 shares of the company's stock valued at $2,453,000 after acquiring an additional 218,285 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Real Brokerage by 31.6% during the 4th quarter. JPMorgan Chase & Co. now owns 831,829 shares of the company's stock valued at $3,826,000 after purchasing an additional 199,913 shares during the period. Hedge funds and other institutional investors own 53.28% of the company's stock.

Real Brokerage Company 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.

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