Corp /De/ Moodys Acquires 11,570,797 Shares of Reis Inc (REIS) Stock

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Reis Inc (NASDAQ:REIS) major shareholder Corp /De/ Moodys bought 11,570,797 shares of the company’s stock in a transaction on Saturday, October 13th. The shares were bought at an average price of $23.00 per share, with a total value of $266,128,331.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of REIS remained flat at $$22.99 during mid-day trading on Friday. Reis Inc has a 52 week low of $16.74 and a 52 week high of $24.00.

Reis (NASDAQ:REIS) last announced its quarterly earnings data on Thursday, August 9th. The business services provider reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.05). The firm had revenue of $11.98 million for the quarter, compared to analysts’ expectations of $11.91 million.

Several equities research analysts have issued reports on the stock. BidaskClub upgraded shares of Reis from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 9th. B. Riley reiterated a “neutral” rating and set a $23.00 target price on shares of Reis in a research report on Friday, August 31st. Finally, ValuEngine lowered shares of Reis from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Reis presently has a consensus rating of “Hold” and a consensus target price of $22.00.

Several institutional investors and hedge funds have recently made changes to their positions in REIS. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of Reis in the 3rd quarter worth approximately $8,662,000. Gabelli Funds LLC bought a new stake in shares of Reis in the 3rd quarter worth approximately $3,050,000. Harvest Management LLC bought a new stake in shares of Reis in the 3rd quarter worth approximately $1,615,000. Acuitas Investments LLC lifted its holdings in shares of Reis by 226.9% in the 2nd quarter. Acuitas Investments LLC now owns 86,886 shares of the business services provider’s stock worth $1,894,000 after acquiring an additional 60,304 shares during the last quarter. Finally, Gamco Investors INC. ET AL bought a new stake in shares of Reis in the 3rd quarter worth approximately $884,000. Hedge funds and other institutional investors own 58.60% of the company’s stock.

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Reis Company Profile

Reis, Inc, through its subsidiary, Reis Services, provides commercial real estate market information and analytical tools to real estate professionals in the United States. The company maintains a proprietary database containing information on commercial properties, including apartment, office, retail, warehouse/distribution, flex/research and development, self-storage, and seniors and student housing properties in the metropolitan markets and neighborhoods.

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