Penn Capital Management Company LLC Acquires New Stake in The RealReal, Inc. $REAL

Penn Capital Management Company LLC purchased a new stake in shares of The RealReal, Inc. (NASDAQ:REAL) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,182,868 shares of the company’s stock, valued at approximately $12,585,000. Penn Capital Management Company LLC owned 1.01% of RealReal as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in REAL. Quarry LP acquired a new stake in RealReal during the third quarter valued at approximately $28,000. Larson Financial Group LLC acquired a new position in RealReal in the third quarter worth approximately $31,000. State of Alaska Department of Revenue purchased a new position in RealReal in the 3rd quarter worth about $59,000. EHP Funds Inc. purchased a new position in shares of RealReal in the third quarter worth approximately $107,000. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of RealReal in the third quarter valued at $108,000. Institutional investors and hedge funds own 64.73% of the company’s stock.

RealReal Trading Up 1.5%

REAL stock opened at $9.94 on Wednesday. The RealReal, Inc. has a 1-year low of $4.61 and a 1-year high of $17.39. The business’s 50 day moving average is $13.25 and its 200-day moving average is $12.69. The firm has a market cap of $1.18 billion, a P/E ratio of -9.12 and a beta of 2.68.

Analyst Ratings Changes

A number of brokerages recently commented on REAL. William Blair started coverage on shares of RealReal in a research report on Monday, December 15th. They set an “outperform” rating on the stock. Robert W. Baird boosted their target price on RealReal from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, February 27th. Wells Fargo & Company upped their target price on RealReal from $15.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. B. Riley Financial lifted their price objective on shares of RealReal from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Finally, Wall Street Zen upgraded RealReal from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.06.

Insider Transactions at RealReal

In other RealReal news, CFO Gopal Ajay Madan sold 31,381 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $10.72, for a total transaction of $336,404.32. Following the completion of the sale, the chief financial officer directly owned 1,124,711 shares of the company’s stock, valued at approximately $12,056,901.92. The trade was a 2.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Todd A. Suko sold 45,947 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $10.72, for a total transaction of $492,551.84. Following the completion of the transaction, the insider owned 560,563 shares in the company, valued at $6,009,235.36. This represents a 7.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 235,298 shares of company stock valued at $2,522,395. 9.00% of the stock is currently owned by insiders.

About RealReal

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.