Realogy (RLGY) Shares Gap Up on Insider Buying Activity

Realogy Holdings Corp (NYSE:RLGY) shares gapped up prior to trading on Thursday following insider buying activity. The stock had previously closed at $7.98, but opened at $8.30. Realogy shares last traded at $8.59, with a volume of 5804693 shares traded.

Specifically, CEO Ryan M. Schneider acquired 119,300 shares of Realogy stock in a transaction on Wednesday, May 8th. The stock was acquired at an average price of $8.38 per share, for a total transaction of $999,734.00. Following the purchase, the chief executive officer now owns 352,761 shares of the company’s stock, valued at approximately $2,956,137.18. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have acquired a total of 122,520 shares of company stock valued at $1,032,327 in the last quarter. Company insiders own 1.20% of the company’s stock.

Several brokerages recently weighed in on RLGY. Barclays set a $9.00 price target on Realogy and gave the company a “sell” rating in a research note on Friday, May 3rd. Compass Point lowered Realogy from a “neutral” rating to a “sell” rating and cut their price target for the company from $12.50 to $8.00 in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. cut their price target on Realogy from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company currently has an average rating of “Sell” and an average target price of $13.60.

The company has a debt-to-equity ratio of 1.83, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 5.73, a PEG ratio of 0.40 and a beta of 1.39.

Realogy (NYSE:RLGY) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported ($0.67) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.67). Realogy had a return on equity of 6.82% and a net margin of 1.76%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business earned ($0.38) EPS. Realogy’s quarterly revenue was down 9.4% on a year-over-year basis. As a group, analysts forecast that Realogy Holdings Corp will post 1.17 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.36 annualized dividend and a yield of 4.19%. Realogy’s dividend payout ratio (DPR) is currently 24.00%.

Realogy announced that its board has approved a stock buyback program on Tuesday, February 26th that permits the company to buyback $175.00 million in shares. This buyback authorization permits the financial services provider to repurchase up to 8.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

A number of large investors have recently bought and sold shares of RLGY. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Realogy during the 1st quarter worth approximately $25,000. Enlightenment Research LLC purchased a new stake in Realogy during the 4th quarter worth approximately $31,000. Oregon Public Employees Retirement Fund increased its stake in Realogy by 6,652.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 717,764 shares of the financial services provider’s stock worth $49,000 after buying an additional 707,135 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in Realogy during the 4th quarter worth approximately $151,000. Finally, Convergence Investment Partners LLC purchased a new stake in Realogy during the 1st quarter worth approximately $177,000.

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Realogy Company Profile (NYSE:RLGY)

Realogy Holdings Corp. is an integrated provider of residential real estate services in the United States. The Company is the franchisor of residential real estate brokerages with some of the recognized brands in the real estate industry, the owner of United States residential real estate brokerage offices, the global provider of outsourced employee relocation services and a provider of title and settlement services.

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