B. Riley restated their buy rating on shares of Real Industry, Inc. (NASDAQ:RELY) in a research note published on Tuesday. B. Riley currently has a $5.00 price objective on the financial services provider’s stock.
“We reiterate our Buy rating and $5.00 price target on RELY . Analyst certification and important disclosures can be found on pages 3 – 6 of this report. This document represents an abbreviated discussion of the subject issuer and should not be used as the sole basis for an investment decision. Contact your B. Riley representative for complete research concerning the subject issuers, including research briefs and reports.Valuation Our Buy rating and $5.00 PT assumes a $525MM value for Real Alloy, the price the company paid. Additionally, we assume RELY will be able to complete multiple accretive acquisitions over the next handful of years that generate $10MM/yr in incremental EBITDA.”,” the firm’s analyst wrote.
Separately, Zacks Investment Research downgraded shares of Real Industry from a hold rating to a sell rating in a research note on Thursday, July 20th.
Shares of Real Industry (NASDAQ:RELY) remained flat at $1.70 during mid-day trading on Tuesday. The stock had a trading volume of 39,266 shares. Real Industry has a 52 week low of $1.45 and a 52 week high of $6.70. The firm has a 50-day moving average price of $1.83 and a 200-day moving average price of $1.83. The firm’s market cap is $49.32 million.
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Several institutional investors and hedge funds have recently made changes to their positions in RELY. Tocqueville Asset Management L.P. increased its position in shares of Real Industry by 86.4% during the second quarter. Tocqueville Asset Management L.P. now owns 2,516,128 shares of the financial services provider’s stock valued at $7,297,000 after acquiring an additional 1,166,087 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Real Industry by 38.8% during the second quarter. Russell Investments Group Ltd. now owns 612,859 shares of the financial services provider’s stock valued at $1,776,000 after acquiring an additional 171,368 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Real Industry by 393.5% during the second quarter. Goldman Sachs Group Inc. now owns 171,007 shares of the financial services provider’s stock valued at $496,000 after acquiring an additional 136,353 shares during the last quarter. Menta Capital LLC increased its position in shares of Real Industry by 233.6% during the first quarter. Menta Capital LLC now owns 185,849 shares of the financial services provider’s stock valued at $530,000 after acquiring an additional 130,141 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Real Industry by 38.1% during the first quarter. Dimensional Fund Advisors LP now owns 397,910 shares of the financial services provider’s stock valued at $1,134,000 after acquiring an additional 109,824 shares during the last quarter. Institutional investors and hedge funds own 57.39% of the company’s stock.
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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