Avantax Advisory Services Inc. Raises Stock Holdings in The Real Brokerage Inc. (NASDAQ:REAX)

Avantax Advisory Services Inc. grew its stake in The Real Brokerage Inc. (NASDAQ:REAX) by 52.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,206 shares of the company’s stock after buying an additional 7,621 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Real Brokerage were worth $90,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Aquatic Capital Management LLC purchased a new stake in shares of Real Brokerage during the fourth quarter worth about $25,000. New York State Teachers Retirement System purchased a new stake in shares of Real Brokerage during the first quarter worth about $37,000. Diversified Trust Co purchased a new stake in shares of Real Brokerage during the first quarter worth about $47,000. Oxford Asset Management LLP purchased a new stake in shares of Real Brokerage during the fourth quarter worth about $49,000. Finally, Golden State Wealth Management LLC grew its position 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 worth $49,000 after purchasing an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 53.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on REAX. B. Riley assumed coverage on Real Brokerage in a research report on Wednesday, June 25th. They set a “buy” rating and a $7.00 target price for the company. Wall Street Zen lowered Real Brokerage from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Jones Trading reissued a “buy” rating and set a $6.00 price target on shares of Real Brokerage in a research note on Thursday.

Real Brokerage Trading Down 3.7%

Shares of Real Brokerage stock opened at $3.94 on Monday. The stock has a 50 day moving average of $4.15 and a 200 day moving average of $4.45. The Real Brokerage Inc. has a 12 month low of $3.80 and a 12 month high of $6.75. The firm has a market cap of $779.15 million, a PE ratio of -78.80 and a beta of 1.02.

Real Brokerage (NASDAQ:REAX) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $540.75 million during the quarter, compared to analyst estimates of $510.58 million. Real Brokerage had a negative return on equity of 35.33% and a negative net margin of 0.78%. As a group, equities research analysts forecast that The Real Brokerage Inc. will post -0.1 earnings per share for the current fiscal year.

Real Brokerage announced that its board has initiated a stock repurchase plan on Friday, May 30th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to purchase up to 17.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.