Advisors Asset Management Inc. lessened its holdings in shares of Reis Inc (NASDAQ:REIS) by 17.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 31,596 shares of the business services provider’s stock after selling 6,825 shares during the period. Advisors Asset Management Inc.’s holdings in Reis were worth $689,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in Reis by 97.5% in the 2nd quarter. Bank of America Corp DE now owns 6,420 shares of the business services provider’s stock valued at $140,000 after acquiring an additional 3,170 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Reis by 82.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 7,800 shares of the business services provider’s stock valued at $168,000 after acquiring an additional 3,517 shares in the last quarter. Millennium Management LLC bought a new stake in Reis in the 1st quarter valued at approximately $329,000. Strs Ohio lifted its stake in Reis by 14.0% in the 2nd quarter. Strs Ohio now owns 26,100 shares of the business services provider’s stock valued at $568,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Stanley Laman Group Ltd. lifted its stake in Reis by 11.3% in the 2nd quarter. Stanley Laman Group Ltd. now owns 29,915 shares of the business services provider’s stock valued at $652,000 after acquiring an additional 3,038 shares in the last quarter. Institutional investors and hedge funds own 58.60% of the company’s stock.
REIS has been the topic of several research reports. ValuEngine cut Reis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. BidaskClub upgraded Reis from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 9th. Zacks Investment Research upgraded Reis from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Finally, B. Riley restated a “neutral” rating and issued a $23.00 target price on shares of Reis in a research note on Friday, August 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Reis presently has an average rating of “Hold” and an average price target of $22.00.
In related news, major shareholder Corp /De/ Moodys purchased 11,570,797 shares of the stock in a transaction on Saturday, October 13th. The shares were purchased at an average price of $23.00 per share, with a total value of $266,128,331.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 21.60% of the stock is owned by insiders.
NASDAQ:REIS opened at $22.99 on Tuesday. Reis Inc has a twelve month low of $16.74 and a twelve month high of $24.00.
Reis (NASDAQ:REIS) last posted its quarterly earnings results on Thursday, August 9th. The business services provider reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.05). The business had revenue of $11.98 million during the quarter, compared to analysts’ expectations of $11.91 million.
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Reis Company Profile
Reis, Inc, through its subsidiary, Reis Services, provides commercial real estate market information and analytical tools to real estate professionals in the United States. The company maintains a proprietary database containing information on commercial properties, including apartment, office, retail, warehouse/distribution, flex/research and development, self-storage, and seniors and student housing properties in the metropolitan markets and neighborhoods.
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