Kanen Wealth Management LLC Lowers Stock Holdings in The RealReal, Inc. (NASDAQ:REAL)

Kanen Wealth Management LLC cut its stake in The RealReal, Inc. (NASDAQ:REAL) by 13.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,374,858 shares of the company’s stock after selling 962,518 shares during the period. RealReal comprises approximately 25.9% of Kanen Wealth Management LLC’s holdings, making the stock its largest holding. Kanen Wealth Management LLC owned approximately 5.81% of RealReal worth $69,677,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Anchorage Capital Advisors L.P. acquired a new position in RealReal in the third quarter valued at about $10,675,000. Renaissance Technologies LLC bought a new position in shares of RealReal in the second quarter valued at approximately $1,563,000. Capricorn Fund Managers Ltd boosted its holdings in shares of RealReal by 40.4% in the 3rd quarter. Capricorn Fund Managers Ltd now owns 1,406,738 shares of the company’s stock worth $4,417,000 after acquiring an additional 404,949 shares in the last quarter. Walleye Capital LLC bought a new stake in RealReal during the 3rd quarter worth approximately $1,163,000. Finally, NewEdge Advisors LLC increased its holdings in RealReal by 309.9% during the 2nd quarter. NewEdge Advisors LLC now owns 435,554 shares of the company’s stock valued at $1,389,000 after purchasing an additional 329,303 shares in the last quarter. Institutional investors own 64.73% of the company’s stock.

Analyst Ratings Changes

REAL has been the topic of a number of recent analyst reports. Northland Securities boosted their price objective on RealReal from $6.50 to $12.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. UBS Group increased their price objective on shares of RealReal from $3.00 to $3.25 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company raised shares of RealReal from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $4.00 to $15.00 in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, RealReal currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.38.

RealReal Trading Up 0.7 %

Shares of REAL stock opened at $9.52 on Monday. The RealReal, Inc. has a 12 month low of $1.52 and a 12 month high of $11.38. The stock has a 50-day moving average price of $7.66 and a 200 day moving average price of $4.67.

Insider Activity

In other news, CEO John E. Koryl sold 396,478 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $9.61, for a total transaction of $3,810,153.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Steve Ming Lo sold 96,666 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $6.10, for a total value of $589,662.60. Following the completion of the sale, the chief accounting officer now directly owns 391,525 shares of the company’s stock, valued at approximately $2,388,302.50. This trade represents a 19.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.78% of the company’s stock.

About RealReal

The RealReal, Inc operates an online marketplace for resale luxury goods in the United State. The company offers various product categories, including women's fashion, men's fashion, jewelry, and watches. It primarily sells products through online marketplace and retail stores. The company was incorporated in 2011 and is headquartered in San Francisco, California.