1,182,868 Shares in The RealReal, Inc. $REAL Bought by Penn Capital Management Company LLC

Penn Capital Management Company LLC acquired a new stake in The RealReal, Inc. (NASDAQ:REAL) in the third quarter, Holdings Channel reports. The institutional investor acquired 1,182,868 shares of the company’s stock, valued at approximately $12,585,000.

Several other hedge funds have also recently added to or reduced their stakes in REAL. CIBC Bancorp USA Inc. acquired a new stake in shares of RealReal in the 3rd quarter valued at approximately $108,000. CANADA LIFE ASSURANCE Co grew its holdings in shares of RealReal by 110.4% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 29,046 shares of the company’s stock valued at $312,000 after buying an additional 15,244 shares during the period. Voleon Capital Management LP bought a new stake in shares of RealReal in the 3rd quarter valued at $850,000. Quarry LP bought a new stake in shares of RealReal in the 3rd quarter valued at $28,000. Finally, Nomura Holdings Inc. lifted its holdings in shares of RealReal by 344.4% during the 3rd quarter. Nomura Holdings Inc. now owns 72,329 shares of the company’s stock valued at $769,000 after purchasing an additional 101,929 shares in the last quarter. Institutional investors and hedge funds own 64.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on REAL. KeyCorp raised their price objective on shares of RealReal from $16.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, January 22nd. Wall Street Zen upgraded RealReal from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. UBS Group lifted their price target on RealReal from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. BTIG Research reaffirmed a “buy” rating and set a $18.00 price objective on shares of RealReal in a research report on Friday, February 27th. Finally, B. Riley Financial increased their price objective on RealReal from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.06.

Insiders Place Their Bets

In other news, CAO Steve Ming Lo sold 16,962 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $10.72, for a total transaction of $181,832.64. Following the completion of the sale, the chief accounting officer owned 170,236 shares in the company, valued at $1,824,929.92. The trade was a 9.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Levesque Rati Sahi sold 121,399 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $10.72, for a total value of $1,301,397.28. Following the completion of the transaction, the chief executive officer directly owned 1,482,779 shares in the company, valued at $15,895,390.88. The trade was a 7.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 235,298 shares of company stock worth $2,522,395 in the last 90 days. Corporate insiders own 9.00% of the company’s stock.

RealReal Price Performance

Shares of REAL opened at $9.94 on Wednesday. The company’s 50-day moving average is $13.25 and its 200-day moving average is $12.69. The firm has a market capitalization of $1.18 billion, a PE ratio of -9.12 and a beta of 2.68. The RealReal, Inc. has a fifty-two week low of $4.61 and a fifty-two week high of $17.39.

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.