Hidden Lake Asset Management LP Takes Position in The RealReal, Inc. (NASDAQ:REAL)

Hidden Lake Asset Management LP bought a new stake in The RealReal, Inc. (NASDAQ:REAL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 882,800 shares of the company’s stock, valued at approximately $17,444,000. The RealReal makes up approximately 5.6% of Hidden Lake Asset Management LP’s portfolio, making the stock its 6th largest position. Hidden Lake Asset Management LP owned about 0.96% of The RealReal at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Capital Fund Management S.A. bought a new position in shares of The RealReal in the first quarter valued at approximately $1,712,000. Marshall Wace LLP lifted its stake in The RealReal by 61.4% in the second quarter. Marshall Wace LLP now owns 426,661 shares of the company’s stock valued at $8,432,000 after purchasing an additional 162,320 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in The RealReal by 36.9% in the second quarter. JPMorgan Chase & Co. now owns 4,039,204 shares of the company’s stock valued at $79,814,000 after purchasing an additional 1,089,037 shares during the last quarter. Arizona State Retirement System purchased a new position in The RealReal in the second quarter valued at approximately $408,000. Finally, Royal Bank of Canada lifted its stake in The RealReal by 2.9% in the first quarter. Royal Bank of Canada now owns 72,841 shares of the company’s stock valued at $1,649,000 after purchasing an additional 2,072 shares during the last quarter. 98.76% of the stock is owned by institutional investors.

Shares of REAL stock traded down $0.28 on Wednesday, reaching $13.16. The company’s stock had a trading volume of 21,189 shares, compared to its average volume of 2,763,288. The company has a quick ratio of 3.20, a current ratio of 3.57 and a debt-to-equity ratio of 2.21. The RealReal, Inc. has a 12-month low of $11.18 and a 12-month high of $30.22. The company has a market capitalization of $1.21 billion, a P/E ratio of -5.40 and a beta of 3.09. The stock’s 50 day simple moving average is $12.78 and its 200-day simple moving average is $17.06.

The RealReal (NASDAQ:REAL) last released its earnings results on Monday, August 9th. The company reported ($0.50) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.55) by $0.05. The business had revenue of $104.91 million for the quarter, compared to analysts’ expectations of $108.27 million. The RealReal had a negative return on equity of 105.14% and a negative net margin of 60.88%. The firm’s revenue was up 83.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.42) earnings per share. Research analysts expect that The RealReal, Inc. will post -2.42 EPS for the current year.

Several equities analysts recently commented on REAL shares. Bank of America upgraded The RealReal from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Wednesday, July 21st. KeyCorp dropped their target price on The RealReal from $32.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 5th. Stifel Nicolaus restated a “hold” rating on shares of The RealReal in a research report on Tuesday, October 19th. Zacks Investment Research downgraded The RealReal from a “buy” rating to a “hold” rating in a research report on Friday, October 22nd. Finally, Needham & Company LLC began coverage on The RealReal in a research report on Friday, September 3rd. They set a “buy” rating and a $35.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $24.57.

In other news, President Levesque Rati Sahi sold 3,848 shares of the firm’s stock in a transaction dated Tuesday, August 24th. The stock was sold at an average price of $12.71, for a total transaction of $48,908.08. Following the transaction, the president now directly owns 432,449 shares of the company’s stock, valued at $5,496,426.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Julie Wainwright sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 11th. The stock was sold at an average price of $14.06, for a total value of $421,800.00. Following the completion of the sale, the chief executive officer now directly owns 2,777,378 shares in the company, valued at $39,049,934.68. The disclosure for this sale can be found here. In the last three months, insiders sold 138,730 shares of company stock worth $1,790,804. 27.80% of the stock is owned by insiders.

The RealReal Company Profile

The RealReal, Inc is an online luxury consignment site, which engages in the consignment of luxury goods across multiple categories, including women’s, men’s, kids, jewelry, watches, home and art. It sells pieces from designers such as Chanel, Christian Louboutin, Gucci, Hermes, Louis Vuitton, Prada, Celine, Jimmy Choo, Burberry, and Valentino.

Further Reading: Risk Tolerance

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Institutional Ownership by Quarter for The RealReal (NASDAQ:REAL)

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