Exploring Creative Realities, Inc. (CREX) Investor Profile: Who’s Buying and Why?

You're looking at Creative Realities, Inc. (CREX) and trying to figure out who is defintely buying this stock, and why they're stepping in now, especially with the Q3 2025 revenue clocking in at just $10.5 million, a sharp drop from the prior year. The investor profile is telling a bifurcated story: while institutional ownership sits at a relatively modest 13.81%, major players like Vanguard Group Inc and Cerity Partners LLC hold significant stakes, suggesting a long-term belief in the digital signage story. But the real action is the recent November 2025 move by North Run Strategic Opportunities Fund I, LP, which injected capital via Series A Convertible Preferred Stock, aligning with the company's recent $42.7 million acquisition of Cineplex Digital Media. This tells you that for the smart money, the short-term pain-like the $7.8 million net loss in Q3 driven by a $5.7 million non-cash impairment-is simply a cost of setting up a much larger, more integrated platform for fiscal 2026. The question is, are you a short-term realist focused on the current $12.3 million Annual Recurring Revenue (ARR), or a strategic investor betting on the acquisition synergy?

Who Invests in Creative Realities, Inc. (CREX) and Why?

If you're looking at Creative Realities, Inc. (CREX), you're looking at a micro-cap stock where the story is less about broad market sentiment and more about a handful of committed institutional players and company insiders. The investor profile is split between long-term, passive funds and highly active strategic investors betting on a significant turnaround driven by acquisition.

The key takeaway is that institutional ownership is relatively low for a Nasdaq-listed company, sitting at about 13.81% of shares outstanding, but the company's insiders hold a substantial stake, a very important signal. Honestly, a high insider ownership percentage, at nearly 27.44%, suggests management's interests are defintely aligned with yours.

Key Investor Types and Their Holdings

The ownership structure of Creative Realities, Inc. is a microcosm of its 'growth-by-acquisition' strategy. You see a mix of institutional money, which provides stability, and a high insider stake, which provides confidence. This is a small-cap stock, so a few institutions can make a big difference.

Here's a quick look at the breakdown of the share structure, based on the latest 2025 fiscal year data:

• Institutional Investors: Hold approximately 1.77 million shares, representing around 13.81% of the total shares outstanding.
• Insider Ownership: This is high, at roughly 27.44% of the shares outstanding.
• Retail Investors: Account for the remaining float, a significant portion that can lead to higher price volatility.

The institutional side is dominated by a few key players. Firms like Cerity Partners LLC, The Vanguard Group Inc., and Perritt Capital Management Inc. are among the largest holders. Vanguard's presence, often through passive index funds like the Vanguard Total Stock Market Index Fund Investor Shares, indicates a long-term, diversified holding strategy.

Investment Motivations: The Turnaround Play

Why are these investors buying, especially when the Q3 2025 results showed a revenue dip to $10.5 million and a net loss of $7.8 million? It's a classic turnaround story, plus a bet on strategic growth, not current performance.

The primary motivation is the transformative acquisition of Cineplex Digital Media (CDM) for USD $42.7 million in November 2025. This deal is expected to significantly improve the company's growth trajectory and bottom-line results in fiscal 2026. Investors are looking past the short-term pain-like the $5.7 million non-cash software impairment charge in Q3 2025-and focusing on the combined entity's potential.

• Growth Prospects: The CDM acquisition adds a blue-chip customer base and potential cross-selling synergies to the digital signage and AdTech solutions provider.
• Value Investing: Despite recent losses, the stock's price of $2.59 per share (as of November 18, 2025) is viewed by some as undervalued, especially given one analyst's 'Strong Buy' rating and a $6.00 price target.
• Strategic Influence: The recent financing with North Run Strategic Opportunities Fund I, LP, which involved issuing Series A Convertible Preferred Stock, shows a new strategic investor taking a deep, active interest in the company's governance and future direction.

Investment Strategies in Play

The strategies at work here are diverse, reflecting the micro-cap nature of Creative Realities, Inc. (CREX). You have the steady hands alongside the more aggressive players.

Long-Term Holding and Passive Investing: The presence of index-tracking funds like those managed by Vanguard and Geode Capital Management suggests a belief in the long-term viability of the digital signage sector, or simply a mandate to hold the entire market, including small-cap stocks. They're not trading the news; they're holding the asset. This is the bedrock of the ownership.

Activist and Value Investing: This is where the action is. Funds like North Run Strategic Opportunities Fund I, LP are not just passive investors; their recent financing and board appointments indicate an activist approach. They are taking a calculated risk on the company's ability to execute its post-acquisition integration plan. Value investors are looking at the current low valuation and betting that the combined company will hit the expected $49.63 million in full-year 2025 revenue and improve earnings in 2026. You can read more about the company's fundamentals and history here: Creative Realities, Inc. (CREX): History, Ownership, Mission, How It Works & Makes Money.

Short-Term Trading/Quantitative Strategies: Hedge funds like Renaissance Technologies Llc, known for their quantitative trading models, also hold a position. Their strategy is often short-term, capitalizing on volatility and market inefficiencies, which are common in micro-cap stocks following major acquisitions and financial announcements. The stock's current market capitalization of $28.4 million makes it susceptible to these movements.

Institutional Ownership and Major Shareholders of Creative Realities, Inc. (CREX)

You're looking at Creative Realities, Inc. (CREX), a micro-cap stock, and the investor profile tells a clear story: institutional money is present but not dominant, which is a key distinction for a company of this size. As of the third quarter of 2025 (Q3 2025) filings, institutions hold a total of approximately 1,463,341 shares, representing a significant portion of the public float.

The investor base is a mix of specialized small-cap funds and large index managers. This isn't a BlackRock-driven stock, but rather one where smaller, research-intensive firms have taken calculated positions. For a deeper dive into the company's fundamentals, you should check out Breaking Down Creative Realities, Inc. (CREX) Financial Health: Key Insights for Investors.

Top Institutional Investors and Their Stakes

The largest institutional investors in Creative Realities, Inc. (CREX) are generally investment advisors and mutual fund managers, not the colossal passive funds you see in large-cap stocks. Here's the quick math on the top holders based on their September 30, 2025, 13F filings (the most recent comprehensive data):

Cerity Partners LLC is the largest holder, with over 331,000 shares. This concentration in a few smaller funds means their buy or sell decisions can have an outsized impact on the stock price, especially on a low-volume day. Vanguard Group Inc's presence is typical for a micro-cap, as they hold shares through their total market index funds, but they are generally passive.

Recent Shifts in Institutional Ownership

What's more telling than the size of the stake is the direction of the trade. The Q3 2025 filings show a slight net accumulation, but the activity is mixed. Institutional investors increased their positions by a total of 142,964 shares and decreased them by 134,848 shares, resulting in a net increase of just over 8,000 shares.

The buying and selling activity reveals a lack of consensus on the stock's near-term trajectory. For example, Vanguard Group Inc increased its stake by 47,046 shares, a nearly 20% jump, which is a strong signal of index-based buying. But Sargent Investment Group, Llc, a more active manager, cut its position by 15,000 shares, a 15.7% reduction. This is defintely a stock where conviction is split.

• Vanguard Group Inc: Increased holdings by 19.772%.
• Sargent Investment Group, Llc: Decreased holdings by 15.707%.
• Total Increased Positions: 142,964 shares.
• Total Decreased Positions: 134,848 shares.

Impact of Institutional Investors on Stock and Strategy

For a company like Creative Realities, Inc. (CREX), which trades at about $2.59 per share as of November 2025, institutional investors play a critical role in both liquidity and governance. Their involvement lends credibility, which is vital for attracting other capital, but it also introduces volatility. When one of the larger holders decides to sell, the low trading volume means the stock price can drop sharply. This is the reality of small-cap investing.

In terms of strategy, the influence is less about activist demands (Schedule 13D filings, which signal an intent to influence management) and more about passive validation (Schedule 13G filings). The larger, passive index funds like Vanguard Group Inc are simply matching the total market. However, the smaller, specialized funds like Cerity Partners LLC, which focus on micro-cap value, are often more engaged. Their presence suggests they see a path to value creation, likely through the company's digital signage and customer experience solutions, and may quietly pressure management on capital allocation or operational efficiency.

What you need to do next is monitor the next round of 13F filings closely. If the total net buying accelerates, it signals a shift in institutional sentiment, which would be a clear buy signal. If the net selling increases, it's time to be cautious.

Key Investors and Their Impact on Creative Realities, Inc. (CREX)

You want to know who is buying Creative Realities, Inc. (CREX) and why, and the short answer is that a mix of strategic activist capital and long-term institutional funds are driving the ownership structure right now, with a major financing deal just reshaping the board. The company's recent acquisition strategy is clearly attracting capital, but this new funding comes with significant governance influence.

Institutional investors own approximately 41.32% of Creative Realities' stock, which is a solid base for a small-cap company. This ownership is spread across about 50 institutional owners, but a few key players stand out, signaling confidence in the digital signage and media solutions space.

The New Strategic Player: North Run's Activist Capital

The most important recent move impacting Creative Realities is the strategic financing deal completed on November 6, 2025, with North Run Strategic Opportunities Fund I, LP. This isn't just a passive investment; it's a clear case of activist capital (Schedule 13D-style) taking a significant, influential stake.

North Run Strategic Opportunities Fund I, LP and an affiliated fund became the largest single shareholder, holding a massive 10,000,001 shares as of November 14, 2025, representing a 19.90% ownership stake. That's a huge position for a company with a current market capitalization of roughly $28.4 million.

The influence is immediate: the financing granted the lead investor the right to appoint directors, leading to the appointment of Thomas B. Ellis and Michael P. Bosco to the Board. This is how a major investor ensures their capital is used wisely-they get a seat at the table. To be fair, this move caused a brief snag with Nasdaq rules, requiring one director, Mr. Bosco, to temporarily step down, but the company is seeking shareholder approval on December 29, 2025, to re-appoint him. This is defintely a situation to watch.

Core Institutional Holders and Recent Trading

Beyond the strategic financing, the company's investor profile includes major institutional names, which primarily hold passive stakes (Schedule 13G-style). These funds provide liquidity and a long-term anchor for the stock. We see the usual suspects, like Vanguard Group Inc., which is a massive index and mutual fund manager, and specialist micro-cap funds like Perritt Capital Management Inc.

Here's the quick math on the top institutional holders as of the Q3 2025 filings (September 30, 2025), with the share price hovering around $2.59 / share in mid-November 2025:

What this estimate hides is the sentiment. You can see a few key things in the recent institutional trading activity:

• Buying Momentum: Vanguard Group Inc. increased its position by 19.772% in the third quarter of fiscal 2025, which is a significant vote of confidence from a massive fund.
• New Entrants: Citadel Advisors Llc, a major hedge fund, took a new position of 61,626 shares as of September 30, 2025. New money is always a positive sign.
• Selective Selling: Sargent Investment Group, Llc, for example, reduced its stake by 15,000 shares, or 15.707%, during the same period.

The big funds are watching Creative Realities' strategic moves, especially the acquisition of Cineplex Digital Media for $42.7 million (USD) in November 2025, which is intended to set the stage for stronger growth. For a deeper dive into the company's long-term goals, you should read their Mission Statement, Vision, & Core Values of Creative Realities, Inc. (CREX).

Your action item here is to track the North Run situation closely; any shareholder approval of the board change in December will cement their influence and signal a clearer path for the company's strategic direction. The activist money is the game-changer.

Market Impact and Investor Sentiment

You're looking at Creative Realities, Inc. (CREX) right now and seeing a company in transition, and honestly, the investor sentiment is a study in contrasts. The direct takeaway is that while the technical indicators flash a warning sign, a major new strategic investor has taken a large, active stake, injecting capital and governance focus that points to a strong, long-term positive view on the company's future growth.

The institutional base is solid, with 50 institutional owners holding a total of 1,755,956 shares as of late 2025. Major passive holders like Vanguard Group Inc. and Cerity Partners LLC represent the steady-hand investors. But the real story is North Run Strategic Opportunities Fund I, LP. This fund is not passive; they filed a Schedule 13D in November 2025, signaling an intent to actively influence the company's strategy. Their stake is massive: 10,000,001 shares, translating to a powerful 19.90% ownership stake. That kind of commitment from a single new player is a clear vote of confidence in the company's new direction, specifically the Cineplex Digital Media (CDM) acquisition.

Still, you need to be a realist. The technical picture is bearish, with the Fear & Greed Index showing 39 (Fear) as of mid-November 2025. This tells you the broader market is still cautious, but the smart money is moving anyway. For a deeper dive into the company's foundation, you can check out Creative Realities, Inc. (CREX): History, Ownership, Mission, How It Works & Makes Money.

Recent Market Reactions to Key Ownership Moves

The stock price movement over the last year has been a bit of a rollercoaster, which is typical for a micro-cap undergoing a major strategic shift. The share price was $2.59/share as of November 18, 2025. While the stock had an impressive 38% gain in the month leading up to late October 2025, it was still down about 25% over the prior year. That's a classic example of a stock trying to find its footing after a period of weakness.

The most significant catalyst was the financing deal with North Run Strategic Opportunities Fund I, LP on November 6, 2025. This involved issuing Series A Convertible Preferred Stock to raise $30.0 million. This capital infusion was crucial for the CDM acquisition, which is expected to be a game-changer for the company's scale. The market's immediate reaction was a focus on the corporate governance implications; the investor's right to appoint directors triggered a Nasdaq compliance issue, which led to a temporary board reduction. This is a minor, defintely manageable risk, but it shows the market is scrutinizing the terms of the deal closely.

Here's the quick math on the potential dilution: if shareholders approve the Series A Conversion Proposal at the December 29, 2025, annual meeting, those preferred shares could convert into up to 12,979,579 common shares, including guaranteed-term dividends, which is a significant amount relative to the 10,518,932 common shares outstanding.

Analyst Perspectives on Investor Impact

The analyst community is divided, but the overall trend is a shift toward optimism, largely driven by the strategic financing and the scale provided by the acquisition. The key investors, especially North Run, are viewed as providing the necessary capital and oversight to execute the new growth strategy.

The consensus rating is split, with some analysts maintaining a 'Hold', while a larger group leans toward 'Buy' or 'Strong Buy'. The average 12-month price targets reflect this optimism, ranging from $6.00 to $7.27. This suggests an upside of over 100% from the current price, which is a massive signal.

The positive outlook hinges on the successful integration of CDM and the realization of cost synergies, which are projected to be at least $10 million annually by the end of 2026. Plus, analysts are revising the FY2025 revenue expectations Upward by 5.69% over the last three months, showing a tangible improvement in the financial forecast.

What this estimate hides is the Q3 2025 revenue decrease to $10.5 million from $14.4 million in the prior year, and the cash on hand dropping to just $0.3 million as of September 30, 2025. The new debt, approximately $22.2 million gross debt at the end of Q3 2025, is also a factor. The new investors are essentially betting that the acquisition-driven growth will quickly outpace the current financial challenges.

• Average 12-Month Price Target: $7.27.
• Highest Price Target: $10.50.
• FY2025 Revenue Revision: +5.69% (Upward).