Ameriprise Financial Inc. cut its position in shares of RealPage Inc. (NASDAQ:RP) by 18.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 327,035 shares of the company’s stock after selling 72,830 shares during the period. Ameriprise Financial Inc. owned 0.41% of RealPage worth $7,304,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of RealPage during the first quarter worth $215,000. TIAA CREF Investment Management LLC increased its stake in shares of RealPage by 28.6% in the first quarter. TIAA CREF Investment Management LLC now owns 241,111 shares of the company’s stock worth $5,025,000 after buying an additional 53,575 shares during the period. Teachers Advisors Inc. increased its stake in shares of RealPage by 13.7% in the first quarter. Teachers Advisors Inc. now owns 436,070 shares of the company’s stock worth $9,088,000 after buying an additional 52,711 shares during the period. Algert Global LLC bought a new stake in shares of RealPage during the first quarter worth about $532,000. Finally, Acrospire Investment Management LLC bought a new stake in shares of RealPage during the first quarter worth about $106,000. Institutional investors own 64.77% of the company’s stock.
RealPage Inc. (NASDAQ:RP) traded down 0.45% during midday trading on Friday, reaching $24.34. The company had a trading volume of 327,773 shares. RealPage Inc. has a 12 month low of $16.06 and a 12 month high of $26.44. The firm’s 50-day moving average price is $25.43 and its 200 day moving average price is $23.18. The firm has a market capitalization of $1.95 billion, a PE ratio of 2434.00 and a beta of 1.30.
RealPage (NASDAQ:RP) last released its earnings results on Wednesday, August 3rd. The company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. RealPage had a return on equity of 8.84% and a net margin of 0.15%. The firm had revenue of $142.50 million for the quarter, compared to the consensus estimate of $141.45 million. During the same period in the prior year, the business posted $0.12 earnings per share. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. Equities analysts anticipate that RealPage Inc. will post $0.73 earnings per share for the current fiscal year.
RP has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded RealPage from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. JMP Securities reissued a “buy” rating on shares of RealPage in a research report on Tuesday, September 20th. RBC Capital Markets reissued a “sector perform” rating and set a $27.00 price objective (up from $23.00) on shares of RealPage in a research report on Thursday, August 4th. Credit Suisse Group AG reissued an “underperform” rating and set a $21.00 price objective (up from $19.00) on shares of RealPage in a research report on Thursday, August 4th. Finally, Benchmark Co. initiated coverage on RealPage in a research report on Tuesday, June 28th. They set a “buy” rating and a $28.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. RealPage currently has an average rating of “Hold” and an average target price of $27.29.
In other news, Chairman Stephen T. Winn sold 50,000 shares of the stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $24.82, for a total value of $1,241,000.00. Following the completion of the sale, the chairman now owns 4,467,553 shares in the company, valued at $110,884,665.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Seren Capital, Ltd. sold 33,000 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $24.93, for a total value of $822,690.00. Following the completion of the sale, the insider now owns 19,678,746 shares of the company’s stock, valued at approximately $490,591,137.78. The disclosure for this sale can be found here. Company insiders own 33.24% of the company’s stock.
RealPage Company Profile
RealPage, Inc is a provider of on demand software and software-enabled solutions for the rental housing industry. The Company’s property management solutions enables owners and managers of single family and multifamily rental property types to manage their marketing, pricing, screening, leasing, accounting, purchasing and other property operations.
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