Short Interest in Mackenzie Realty Capital, Inc. (NASDAQ:MKZR) Drops By 46.0%

Mackenzie Realty Capital, Inc. (NASDAQ:MKZR) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 2,700 shares, a decline of 46.0% from the September 30th total of 5,000 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 50,500 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 50,500 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.2% of the shares of the company are sold short.

Insiders Place Their Bets

In other news, General Counsel Charles E. Patterson II purchased 14,000 shares of Mackenzie Realty Capital stock in a transaction that occurred on Thursday, October 2nd. The stock was acquired at an average cost of $5.06 per share, for a total transaction of $70,840.00. Following the purchase, the general counsel directly owned 85,855 shares of the company’s stock, valued at $434,426.30. This trade represents a 19.48% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Portfolio Manager Christine Elizabeth Simpson bought 14,000 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were bought at an average price of $5.06 per share, with a total value of $70,840.00. Following the completion of the transaction, the portfolio manager owned 85,855 shares in the company, valued at approximately $434,426.30. This trade represents a 19.48% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 486,235 shares of company stock worth $2,309,682 over the last three months. 6.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mackenzie Realty Capital

Institutional investors and hedge funds have recently made changes to their positions in the business. Pineridge Advisors LLC bought a new position in Mackenzie Realty Capital in the first quarter worth approximately $29,000. Brookwood Investment Group LLC bought a new position in Mackenzie Realty Capital in the first quarter worth approximately $34,000. Arkadios Wealth Advisors purchased a new stake in shares of Mackenzie Realty Capital in the first quarter worth approximately $54,000. Clarity Capital Partners LLC purchased a new stake in shares of Mackenzie Realty Capital in the first quarter worth approximately $55,000. Finally, Savvy Advisors Inc. raised its stake in shares of Mackenzie Realty Capital by 494.1% in the second quarter. Savvy Advisors Inc. now owns 87,133 shares of the company’s stock worth $58,000 after purchasing an additional 72,467 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mackenzie Realty Capital in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Mackenzie Realty Capital Stock Performance

NASDAQ MKZR opened at $4.85 on Friday. The business’s 50-day moving average price is $5.52 and its two-hundred day moving average price is $7.22. Mackenzie Realty Capital has a 12 month low of $3.89 and a 12 month high of $55.00. The firm has a market capitalization of $8.58 million and a PE ratio of -0.33.

Mackenzie Realty Capital Company Profile

MacKenzie Realty Capital Inc is a REIT which focused on investing in multifamily housing and office real estate properties located principally in the United States. MacKenzie Realty Capital Inc is based in ORINDA, Calif.