Realogy (NYSE:RLGY) Shares Gap Down to $17.98

Realogy Holdings Corp. (NYSE:RLGY) shares gapped down before the market opened on Thursday . The stock had previously closed at $17.98, but opened at $17.60. Realogy shares last traded at $17.95, with a volume of 651 shares traded.

RLGY has been the topic of several analyst reports. Berenberg Bank began coverage on shares of Realogy in a research report on Wednesday. They set a “buy” rating and a $23.00 price target on the stock. TheStreet raised Realogy from a “d+” rating to a “c” rating in a research report on Thursday, April 29th. Finally, Zacks Investment Research upgraded Realogy from a “hold” rating to a “strong-buy” rating and set a $22.00 price target for the company in a research note on Wednesday, May 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $18.60.

The firm has a market cap of $2.05 billion, a PE ratio of 15.63 and a beta of 2.78. The stock’s 50 day moving average is $17.92. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.06 and a current ratio of 1.06.

Realogy (NYSE:RLGY) last posted its quarterly earnings results on Thursday, April 29th. The financial services provider reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.15. Realogy had a return on equity of 19.18% and a net margin of 2.08%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business earned ($0.55) EPS. On average, equities research analysts predict that Realogy Holdings Corp. will post 2.62 EPS for the current year.

In related news, CAO Timothy B. Gustavson sold 12,000 shares of the company’s stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $17.39, for a total value of $208,680.00. Following the transaction, the chief accounting officer now owns 19,818 shares in the company, valued at approximately $344,635.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vantage Consulting Group Inc acquired a new position in shares of Realogy during the 4th quarter worth approximately $43,000. International Assets Investment Management LLC lifted its position in shares of Realogy by 185.0% during the 1st quarter. International Assets Investment Management LLC now owns 4,190 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 2,720 shares during the period. Carolina Wealth Advisors LLC acquired a new stake in shares of Realogy during the 1st quarter worth $68,000. Teacher Retirement System of Texas bought a new position in shares of Realogy in the fourth quarter worth $138,000. Finally, Point72 Hong Kong Ltd lifted its position in Realogy by 145.7% during the first quarter. Point72 Hong Kong Ltd now owns 12,350 shares of the financial services provider’s stock worth $187,000 after purchasing an additional 7,324 shares during the period.

About Realogy (NYSE:RLGY)

Realogy Holdings Corp., through its subsidiaries, provides residential real estate services. It operates through three segments: Realogy Franchise Group, and Realogy Brokerage Group. The Realogy Franchise Group segment franchises its residential real estate brokerages under the Century 21, Coldwell Banker, Coldwell Banker Commercial, Corcoran, ERA, Sotheby's International Realty, and Better Homes and Gardens Real Estate brand names.

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