Fifth Third Bancorp Takes Position in The RealReal, Inc. $REAL

Fifth Third Bancorp purchased a new stake in shares of The RealReal, Inc. (NASDAQ:REAL) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 250,033 shares of the company’s stock, valued at approximately $2,270,000. Fifth Third Bancorp owned approximately 0.21% of RealReal as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in RealReal by 589.2% during the 1st quarter. AQR Capital Management LLC now owns 887,997 shares of the company’s stock valued at $4,786,000 after purchasing an additional 759,160 shares during the last quarter. Cannell Capital LLC raised its stake in shares of RealReal by 75.3% in the second quarter. Cannell Capital LLC now owns 1,429,207 shares of the company’s stock worth $6,846,000 after purchasing an additional 613,845 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in shares of RealReal in the fourth quarter worth $8,510,000. Counterpoint Mutual Funds LLC purchased a new position in shares of RealReal in the first quarter worth $4,475,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of RealReal by 147.3% during the fourth quarter. Renaissance Technologies LLC now owns 755,500 shares of the company’s stock valued at $11,922,000 after purchasing an additional 450,000 shares in the last quarter. 64.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on REAL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RealReal in a research report on Friday. Wall Street Zen lowered RealReal from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Robert W. Baird set a $13.00 target price on shares of RealReal in a research note on Friday, May 8th. BTIG Research reaffirmed a “buy” rating and set a $17.00 price target on shares of RealReal in a report on Wednesday, June 3rd. Finally, UBS Group reaffirmed a “buy” rating on shares of RealReal in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.25.

RealReal Price Performance

REAL stock opened at $11.92 on Wednesday. The RealReal, Inc. has a 1 year low of $5.00 and a 1 year high of $17.39. The company has a market cap of $1.44 billion, a P/E ratio of -11.69 and a beta of 2.66. The stock’s fifty day moving average price is $10.59 and its 200-day moving average price is $11.63.

RealReal (NASDAQ:REAL) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $189.72 million for the quarter, compared to analysts’ expectations of $187.82 million. During the same quarter last year, the company posted ($0.08) EPS. The firm’s revenue was up 18.5% compared to the same quarter last year. As a group, analysts expect that The RealReal, Inc. will post -0.14 earnings per share for the current year.

Insider Activity

In other news, CEO Levesque Rati Sahi sold 81,194 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $9.25, for a total transaction of $751,044.50. Following the completion of the sale, the chief executive officer owned 1,581,276 shares of the company’s stock, valued at $14,626,803. This represents a 4.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Steve Ming Lo sold 12,077 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $9.25, for a total transaction of $111,712.25. Following the sale, the chief accounting officer owned 189,469 shares of the company’s stock, valued at $1,752,588.25. This trade represents a 5.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 166,830 shares of company stock worth $1,543,178. Company insiders own 2.66% of the company’s stock.

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.