Bank of New York Mellon Corp Sells 19,301 Shares of Reis, Inc (REIS)

Bank of New York Mellon Corp reduced its position in shares of Reis, Inc (NASDAQ:REIS) by 16.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,625 shares of the business services provider’s stock after selling 19,301 shares during the period. Bank of New York Mellon Corp owned approximately 0.87% of Reis worth $1,784,000 at the end of the most recent quarter.

Separately, Advisors Asset Management Inc. boosted its position in Reis by 81.5% in the first quarter. Advisors Asset Management Inc. now owns 25,828 shares of the business services provider’s stock worth $462,000 after buying an additional 11,598 shares during the period. 60.48% of the stock is currently owned by institutional investors and hedge funds.

Reis, Inc (NASDAQ REIS) traded down 1.07% during midday trading on Wednesday, hitting $18.55. 57,596 shares of the stock were exchanged. The firm’s 50-day moving average price is $20.32 and its 200 day moving average price is $19.44. The firm has a market capitalization of $213.55 million, a P/E ratio of 185.50 and a beta of 1.08. Reis, Inc has a 1-year low of $16.90 and a 1-year high of $23.62.

Reis (NASDAQ:REIS) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.01. The company had revenue of $11.71 million for the quarter, compared to the consensus estimate of $12.20 million. Reis had a net margin of 2.49% and a return on equity of 1.20%. Analysts expect that Reis, Inc will post $0.16 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on the company. B. Riley reiterated a “buy” rating and issued a $26.00 target price on shares of Reis in a research note on Tuesday, August 8th. TheStreet downgraded shares of Reis from a “b-” rating to a “c+” rating in a research report on Friday, August 4th. Finally, Zacks Investment Research upgraded shares of Reis from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th.

In related news, COO William Sander sold 3,525 shares of the company’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $20.79, for a total transaction of $73,284.75. Following the sale, the chief operating officer now owns 167,736 shares of the company’s stock, valued at $3,487,231.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 21.60% of the stock is owned by corporate insiders.

About Reis

Reis, Inc (Reis) is engaged in providing commercial real estate market information and analytical tools to real estate professionals, through its Reis Services subsidiary. The Company operates through Reis Services segment. It maintains a database containing detailed information on commercial properties in metropolitan markets and neighborhoods throughout the United States.