Real Industry Inc. (RELY) Rating Lowered to Sell at Zacks Investment Research
Real Industry Inc. (NASDAQ:RELY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
According to Zacks, “Real Industry, Inc. is a holding company which invests in businesses primarily in the United States industrial and commercial marketplace. Real Industry Inc., formerly known as Signature Group Holdings, Inc., is based in Sherman Oaks, United States. “
Separately, B. Riley reiterated a “buy” rating and issued a $16.00 price objective on shares of Real Industry in a report on Sunday, August 14th.
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Shares of Real Industry (NASDAQ:RELY) remained flat at $5.95 during midday trading on Tuesday. The stock had a trading volume of 3,243 shares. The company has a 50 day moving average of $6.41 and a 200-day moving average of $7.65. The company’s market capitalization is $174.05 million. Real Industry has a one year low of $5.30 and a one year high of $10.80.
Real Industry (NASDAQ:RELY) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. Real Industry had a negative net margin of 1.13% and a negative return on equity of 8.73%. The firm had revenue of $320.90 million for the quarter, compared to analyst estimates of $323.39 million. During the same quarter in the previous year, the business posted ($0.53) EPS. The firm’s revenue was down 13.0% compared to the same quarter last year. Analysts forecast that Real Industry will post ($0.70) EPS for the current year.
In related news, Director William K. Hall bought 10,000 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was bought at an average price of $7.02 per share, with a total value of $70,200.00. Following the transaction, the director now owns 29,711 shares of the company’s stock, valued at $208,571.22. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Real Industry, Inc. bought 5,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was bought at an average cost of $6.45 per share, with a total value of $32,250.00. Following the transaction, the director now directly owns 82,059 shares in the company, valued at approximately $529,280.55. The disclosure for this purchase can be found here. 5.00% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Real Industry by 983.5% in the second quarter. BlackRock Inc. now owns 15,721 shares of the company’s stock valued at $122,000 after buying an additional 14,270 shares during the last quarter. Bank of Montreal Can bought a new stake in Real Industry during the second quarter valued at $131,000. Berson & Corrado Investment Advisors LLC bought a new stake in Real Industry during the second quarter valued at $140,000. Nationwide Fund Advisors increased its stake in Real Industry by 11.2% in the second quarter. Nationwide Fund Advisors now owns 20,559 shares of the company’s stock valued at $160,000 after buying an additional 2,070 shares during the last quarter. Finally, Mesirow Financial Investment Management Equity Management bought a new stake in Real Industry during the second quarter valued at $163,000. 57.29% of the stock is owned by institutional investors.
Real Industry Company Profile
Real Industry, Inc is a holding company. The Company focuses on the operations of Real Alloy Holding, Inc (Real Alloy), which is engaged in aluminum recycling. The Company’s segments include Real Alloy North America (RANA) and Real Alloy Europe (RAEU). The RANA segment includes aluminum melting, processing, recycling and alloying activities conducted in approximately 20 facilities located in the United States, Canada and Mexico.
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