Real Industry Inc. (RELY) Downgraded to “Sell” at Zacks Investment Research
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 restated a buy rating and issued a $16.00 price target on shares of Real Industry in a research report on Sunday, August 14th.
Shares of Real Industry (NASDAQ:RELY) traded down 0.446% during trading on Tuesday, hitting $5.575. The company had a trading volume of 19,491 shares. The firm’s 50 day moving average is $6.25 and its 200-day moving average is $7.59. The stock’s market capitalization is $163.08 million. Real Industry has a 52 week low of $5.30 and a 52 week high of $10.80.
Real Industry (NASDAQ:RELY) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. The business earned $320.90 million during the quarter, compared to analysts’ expectations of $323.39 million. Real Industry had a negative return on equity of 8.73% and a negative net margin of 1.13%. The business’s quarterly revenue was down 13.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.53) earnings per share. Equities research analysts anticipate that Real Industry will post ($0.70) EPS for the current fiscal year.
In other news, CEO Craig T. Bouchard sold 98,396 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $7.13, for a total value of $701,563.48. Following the completion of the transaction, the chief executive officer now owns 89,974 shares of the company’s stock, valued at $641,514.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Patrick Deconinck acquired 10,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was acquired at an average cost of $7.61 per share, with a total value of $76,100.00. Following the purchase, the director now owns 39,711 shares of the company’s stock, valued at $302,200.71. The disclosure for this purchase can be found here. 5.00% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Spark Investment Management LLC raised its position in Real Industry by 13.1% in the first quarter. Spark Investment Management LLC now owns 68,000 shares of the company’s stock worth $591,000 after buying an additional 7,900 shares during the period. State Street Corp raised its position in Real Industry by 7.2% in the first quarter. State Street Corp now owns 318,162 shares of the company’s stock worth $2,769,000 after buying an additional 21,352 shares during the period. Lazard Asset Management LLC raised its position in Real Industry by 0.8% in the first quarter. Lazard Asset Management LLC now owns 1,246,265 shares of the company’s stock worth $10,842,000 after buying an additional 9,600 shares during the period. Geode Capital Management LLC raised its position in Real Industry by 2.9% in the first quarter. Geode Capital Management LLC now owns 165,888 shares of the company’s stock worth $1,443,000 after buying an additional 4,734 shares during the period. Finally, Keane Capital Partners LLC acquired a new position in Real Industry during the first quarter worth $1,137,000. 57.29% of the stock is owned by hedge funds and other institutional investors.
About Real Industry
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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