Zacks Investment Research Downgrades Real Industry, Inc. (RELY) to Hold

Real Industry, Inc. (NASDAQ:RELY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Real Industry, Inc. is a holding company which invests in businesses primarily in the United States industrial and commercial marketplace. Real Industry Inc., formerly known as Signature Group Holdings, Inc., is based in Sherman Oaks, United States. “

Separately, B. Riley reiterated a “buy” rating and issued a $5.00 price target on shares of Real Industry in a research note on Tuesday, August 15th.

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Several hedge funds and other institutional investors have recently made changes to their positions in RELY. Tocqueville Asset Management L.P. boosted its holdings in shares of Real Industry by 86.4% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 2,516,128 shares of the financial services provider’s stock valued at $7,297,000 after acquiring an additional 1,166,087 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Real Industry by 38.8% in the second quarter. Russell Investments Group Ltd. now owns 612,859 shares of the financial services provider’s stock worth $1,776,000 after buying an additional 171,368 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Real Industry by 393.5% in the second quarter. Goldman Sachs Group Inc. now owns 171,007 shares of the financial services provider’s stock worth $496,000 after buying an additional 136,353 shares during the last quarter. Menta Capital LLC boosted its holdings in shares of Real Industry by 233.6% in the first quarter. Menta Capital LLC now owns 185,849 shares of the financial services provider’s stock worth $530,000 after buying an additional 130,141 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Real Industry by 38.1% in the first quarter. Dimensional Fund Advisors LP now owns 397,910 shares of the financial services provider’s stock worth $1,134,000 after buying an additional 109,824 shares during the last quarter. 57.44% of the stock is currently owned by hedge funds and other institutional investors.

Real Industry Company Profile

Real Industry, Inc is a holding company. The Company focuses on the operations of Real Alloy Holding, Inc (Real Alloy), which is engaged in aluminum recycling. The Company’s segments include Real Alloy North America (RANA) and Real Alloy Europe (RAEU). The RANA segment includes aluminum melting, processing, recycling and alloying activities conducted in approximately 20 facilities located in the United States, Canada and Mexico.

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