Castleark Management LLC lowered its stake in shares of RealPage Inc (NASDAQ:RP) by 10.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 342,129 shares of the software maker’s stock after selling 40,190 shares during the period. Castleark Management LLC’s holdings in RealPage were worth $18,851,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Next Century Growth Investors LLC purchased a new position in shares of RealPage in the 1st quarter valued at about $143,000. Mount Yale Investment Advisors LLC purchased a new position in shares of RealPage in the 1st quarter valued at about $164,000. First Manhattan Co. increased its stake in shares of RealPage by 78.9% in the 2nd quarter. First Manhattan Co. now owns 3,400 shares of the software maker’s stock valued at $187,000 after purchasing an additional 1,500 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of RealPage in the 2nd quarter valued at about $204,000. Finally, GSA Capital Partners LLP purchased a new position in shares of RealPage in the 1st quarter valued at about $208,000. Institutional investors and hedge funds own 81.13% of the company’s stock.
RP has been the subject of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on RealPage in a research note on Thursday, June 21st. They issued an “overweight” rating and a $76.00 price target for the company. Royal Bank of Canada lifted their price target on RealPage to $64.00 and gave the company a “sector perform” rating in a research note on Friday, August 3rd. KeyCorp reiterated an “overweight” rating and set a $72.00 price objective (down from $84.00) on shares of RealPage in a research note on Friday. BidaskClub upgraded RealPage from a “hold” rating to a “buy” rating in a research note on Saturday, July 14th. Finally, Zacks Investment Research lowered RealPage from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $64.50.
In other RealPage news, CFO W Bryan Hill sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 11th. The stock was sold at an average price of $56.61, for a total transaction of $452,880.00. Following the completion of the sale, the chief financial officer now directly owns 184,341 shares in the company, valued at approximately $10,435,544.01. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Stephen T. Winn sold 794,939 shares of the business’s stock in a transaction that occurred on Friday, June 22nd. The stock was sold at an average price of $56.73, for a total value of $45,096,889.47. Following the transaction, the chairman now owns 1,674,645 shares in the company, valued at $95,002,610.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,339,250 shares of company stock valued at $198,121,298. 24.91% of the stock is owned by company insiders.
NASDAQ:RP opened at $63.65 on Monday. RealPage Inc has a 12 month low of $38.40 and a 12 month high of $64.80. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. The company has a market cap of $5.84 billion, a price-to-earnings ratio of 79.74 and a beta of 1.15.
RealPage (NASDAQ:RP) last posted its quarterly earnings data on Thursday, August 2nd. The software maker reported $0.37 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.37. RealPage had a return on equity of 10.56% and a net margin of 0.69%. The company had revenue of $216.36 million during the quarter, compared to analyst estimates of $215.14 million. During the same period in the previous year, the business earned $0.23 EPS. RealPage’s quarterly revenue was up 33.3% on a year-over-year basis. equities research analysts forecast that RealPage Inc will post 1.03 earnings per share for the current year.
RealPage, Inc provides software and data analytics for the real estate industry in the United States. It offers OneSite, a property management solution for multi-family, affordable property, rural housing, military housing, senior and student living, and commercial property types; and Propertyware for accounting, maintenance and work order management, marketing, spend management, portal services, and screening and payment solutions.
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