JMP Securities Reiterates “Buy” Rating for RealPage Inc. (RP)
RealPage Inc. (NASDAQ:RP)‘s stock had its “buy” rating reissued by equities research analysts at JMP Securities in a report released on Tuesday.
A number of other equities research analysts also recently commented on the company. Zacks Investment Research downgraded RealPage from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. Bank of America Corp. upgraded RealPage from an “underperform” rating to a “neutral” rating in a research report on Wednesday, June 8th. Credit Suisse Group AG reiterated an “underperform” rating and issued a $21.00 target price (up from $19.00) on shares of RealPage in a research report on Thursday, August 4th. Benchmark Co. started coverage on RealPage in a research report on Tuesday, June 28th. They issued a “buy” rating and a $28.00 target price on the stock. Finally, William Blair upgraded RealPage from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $27.29.
Shares of RealPage (NASDAQ:RP) opened at 25.12 on Tuesday. The firm has a 50-day moving average price of $25.28 and a 200 day moving average price of $22.73. The stock has a market cap of $2.02 billion, a PE ratio of 2512.00 and a beta of 1.20. RealPage has a 12-month low of $16.06 and a 12-month high of $26.44.
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RealPage (NASDAQ:RP) last posted its earnings results on Wednesday, August 3rd. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $142.50 million for the quarter, compared to the consensus estimate of $141.45 million. RealPage had a return on equity of 8.84% and a net margin of 0.15%. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.12 earnings per share. Equities research analysts expect that RealPage will post $0.73 earnings per share for the current year.
In other news, Chairman Stephen T. Winn sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $24.84, for a total transaction of $2,732,400.00. Following the transaction, the chairman now owns 4,180,223 shares of the company’s stock, valued at $103,836,739.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Stephen T. Winn sold 4,830 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $26.12, for a total value of $126,159.60. Following the transaction, the chief executive officer now directly owns 4,337,223 shares in the company, valued at approximately $113,288,264.76. The disclosure for this sale can be found here. Insiders own 33.24% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RP. Macquarie Group Ltd. purchased a new position in shares of RealPage during the second quarter valued at about $2,093,000. Schwab Charles Investment Management Inc. boosted its position in shares of RealPage by 1.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 186,623 shares of the company’s stock valued at $4,168,000 after buying an additional 3,402 shares during the period. Hillsdale Investment Management Inc. boosted its position in shares of RealPage by 13.2% in the second quarter. Hillsdale Investment Management Inc. now owns 17,200 shares of the company’s stock valued at $384,000 after buying an additional 2,000 shares during the period. American Century Companies Inc. purchased a new position in shares of RealPage during the second quarter valued at about $2,663,000. Finally, Highbridge Capital Management LLC purchased a new position in shares of RealPage during the second quarter valued at about $930,000. 65.45% of the stock is currently owned by hedge funds and other institutional investors.
RealPage Company Profile
RealPage, Inc is a provider of on demand software and software-enabled solutions for the rental housing industry. The Company’s property management solutions enables owners and managers of single family and multifamily rental property types to manage their marketing, pricing, screening, leasing, accounting, purchasing and other property operations.
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