Mackenzie Financial Corp Decreases Position in ATRenew Inc. (NYSE:RERE)

Mackenzie Financial Corp trimmed its position in shares of ATRenew Inc. (NYSE:RERE) by 15.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 184,265 shares of the company’s stock after selling 33,362 shares during the quarter. Mackenzie Financial Corp’s holdings in ATRenew were worth $531,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. NewEdge Advisors LLC purchased a new stake in shares of ATRenew in the fourth quarter valued at $29,000. QRG Capital Management Inc. purchased a new stake in shares of ATRenew in the fourth quarter valued at $48,000. Squarepoint Ops LLC purchased a new stake in shares of ATRenew in the fourth quarter valued at $50,000. Russell Investments Group Ltd. purchased a new stake in shares of ATRenew in the fourth quarter valued at $82,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of ATRenew in the fourth quarter valued at $101,000. 19.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded ATRenew from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 24th.

ATRenew Stock Down 1.6%

Shares of NYSE:RERE opened at $2.54 on Tuesday. ATRenew Inc. has a 52-week low of $2.00 and a 52-week high of $3.70. The stock’s fifty day simple moving average is $2.52 and its 200-day simple moving average is $2.80. The company has a market capitalization of $619.43 million, a P/E ratio of -50.79, a P/E/G ratio of 0.41 and a beta of 0.06.

ATRenew (NYSE:RERE) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). ATRenew had a negative net margin of 0.53% and a positive return on equity of 6.87%. The company had revenue of $641.26 million during the quarter, compared to analysts’ expectations of $4.62 billion. On average, sell-side analysts anticipate that ATRenew Inc. will post 0.09 earnings per share for the current year.

ATRenew Profile

ATRenew Inc, through its subsidiaries, operates pre-owned consumer electronics transactions and services platform in the People's Republic of China. It primarily sells mobile phones, laptops, tablets, drones, digital cameras; and vintage bags, watches, liquor, gold, and various household goods through its online platforms and offline stores, as well as provides services to third-party merchants to sell the products through its platforms.