Waddell & Reed Financial Inc. Invests $8.02 Million in RealReal Inc (NASDAQ:REAL)

 

Waddell & Reed Financial Inc. bought a new position in shares of RealReal Inc (NASDAQ:REAL) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 277,445 shares of the company’s stock, valued at approximately $8,018,000. Waddell & Reed Financial Inc. owned approximately 0.34% of RealReal as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new stake in shares of RealReal in the 2nd quarter valued at about $63,000. Pendal Group Ltd acquired a new stake in RealReal during the 2nd quarter worth approximately $146,000. Maven Securities LTD acquired a new stake in RealReal during the 2nd quarter worth approximately $289,000. Crestline Management LP acquired a new stake in RealReal during the 2nd quarter worth approximately $482,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of RealReal in the 2nd quarter valued at $575,000. 25.14% of the stock is currently owned by institutional investors.

RealReal stock traded up $0.66 during trading on Friday, reaching $19.35. The company had a trading volume of 2,103,900 shares, compared to its average volume of 1,467,223. RealReal Inc has a 12-month low of $12.58 and a 12-month high of $30.05. The business’s 50 day moving average price is $16.23.
RealReal (NASDAQ:REAL) last released its earnings results on Tuesday, August 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. The company had revenue of $71.00 million during the quarter, compared to analysts’ expectations of $70.10 million. The business’s revenue for the quarter was up 51.1% compared to the same quarter last year. As a group, analysts anticipate that RealReal Inc will post -1.24 EPS for the current fiscal year.
REAL has been the topic of a number of recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $30.00 target price on shares of RealReal in a research report on Wednesday, August 14th. Credit Suisse Group initiated coverage on shares of RealReal in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $30.00 price objective for the company. UBS Group initiated coverage on shares of RealReal in a research report on Tuesday, July 23rd. They set a “buy” rating and a $30.00 target price for the company. Bank of America cut their target price on shares of RealReal from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Finally, Cowen began coverage on shares of RealReal in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $32.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $28.14.

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Coach brand back to ‘full health’ from selling many handbags

Parent company 'Tapestry' shares soar nearly 12% in Tuesday trading on the sale of COACH bags

Coach

Tapestry says that merchandising and marketing with spokesperson Selena Gomez has given the Coach brand a bump.

GlobalData Retail declared the Coach brand back to “full health” in a Tuesday note after Coach parent company Tapestry Inc. reported better-than-expected earnings that got a boost from North American customers who were ready to shop.
Tapestry shares TPR, -0.57% closed Tuesday up 12%.
Tapestry reported fourth-fiscal-quarter adjusted earnings of 60 cents per share, ahead of the 57-cents FactSet consensus, and sales of $1.48 billion, beating the $1.47 billion FactSet guidance.
Coach’s president, Joshua Schulman, highlighted the results of the company’s North American brand-tracking survey, which found that “premium” consumers and millennials have an improved view of the brand, which he attributed to the company’s marketing, featuring Selena Gomez; merchandising that focused on handbags priced in the $300-to-$400 range; in-store experience; and the reception for its Signature line of bags.

When Tapestry was still called Coach Inc. the company launched an effort to rehabilitate the Coach brand, pulling back distribution at department stores and increasing focus on a higher price point in the interest of the brand’s image.
Neil Saunders, managing director at GlobalData Retail, declared the company’s efforts a success after fourth-quarter sales rose 5%.
“In our view, this is a very respectable result, which, once again, underlines the return to full health of a brand that once suffered from ubiquity and excessive discounting,” Saunders said. “The performance in the U.S. was particularly strong, aided in large part by the more robust consumer economy, which has spurred spending on luxury products.”
Tapestry’s other brands include Kate Spade and Stuart Weitzman. Tapestry continues to integrate Kate Spade into the fold after it was acquired in 2017. And Stuart Weitzman continued to suffer from operational issues.

By Tonya Garcia

Published: Aug 15, 2018 4:27 p.m. ET

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Coach to Buy Kate Spade in $2.4 Billion Deal

A statement released by Coach said the combined company will create a "leading luxury lifestyle company" supported by "significant expertise in handbag design, merchandising, supply chain, and retail operations."

The luxury retailer Coach announced on Monday that it agreed to buy Kate Spade for $18.50 a share, for a total transaction value of $2.4 billion.
The per-share acquisition price is 27.5% higher than Kate Spade's share price as of December 27, the last day of trading before deal rumors started affecting the stock price.
Still, it's 23% below a nine-month high of $24.10 reached February 27.
Shares for the handbag and accessories maker surged by 8.1% in premarket trading Monday, while Coach's stock was little changed.
"Kate Spade has a truly unique and differentiated brand positioning with a broad lifestyle assortment and strong awareness among consumers, especially millennials," Coach CEO Victor Luis said in the release.
Kate Spade has been under external pressure to do a deal since November, when the New York-based hedge fund Caerus Investors sent the company's board a letter pushing for a sale.
"We have become increasingly frustrated by management's inability to achieve profit margins comparable to industry peers," Caerus' founder, Ward Davis, and managing partner, Brian Agnew, wrote at the time.

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