Front Yard Residential Corp (NYSE:RESI) Major Shareholder Acquires $1,260,000.00 in Stock

Front Yard Residential Corp (NYSE:RESI) major shareholder Deer Park Road Management Comp bought 150,000 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were acquired at an average cost of $8.40 per share, for a total transaction of $1,260,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Deer Park Road Management Comp also recently made the following trade(s):

  • On Wednesday, May 13th, Deer Park Road Management Comp bought 120,001 shares of Front Yard Residential stock. The shares were acquired at an average cost of $6.79 per share, for a total transaction of $814,806.79.
  • On Friday, May 15th, Deer Park Road Management Comp bought 508,710 shares of Front Yard Residential stock. The shares were acquired at an average cost of $6.05 per share, for a total transaction of $3,077,695.50.
  • On Thursday, May 7th, Deer Park Road Management Comp bought 100,500 shares of Front Yard Residential stock. The shares were acquired at an average cost of $6.85 per share, for a total transaction of $688,425.00.
  • On Thursday, April 30th, Deer Park Road Management Comp acquired 125,000 shares of Front Yard Residential stock. The stock was purchased at an average cost of $11.38 per share, with a total value of $1,422,500.00.

Shares of RESI stock opened at $8.26 on Monday. The business has a 50 day moving average of $8.16 and a two-hundred day moving average of $10.46. Front Yard Residential Corp has a 52 week low of $6.01 and a 52 week high of $13.28. The company has a market cap of $484.16 million, a P/E ratio of 37.55 and a beta of 0.54.

Front Yard Residential (NYSE:RESI) last issued its earnings results on Monday, May 4th. The real estate investment trust reported ($0.37) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.38) by $0.01. Front Yard Residential had a negative return on equity of 16.10% and a negative net margin of 27.34%. The company had revenue of $54.33 million during the quarter. As a group, analysts anticipate that Front Yard Residential Corp will post 0.36 earnings per share for the current fiscal year.

Several brokerages recently weighed in on RESI. Credit Suisse Group began coverage on Front Yard Residential in a report on Monday, May 18th. They issued an “outperform” rating and a $11.00 price objective for the company. Northland Securities raised Front Yard Residential from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a report on Friday, June 12th. ValuEngine lowered Front Yard Residential from a “buy” rating to a “hold” rating in a report on Friday, June 19th. Finally, JMP Securities raised Front Yard Residential from a “market perform” rating to an “outperform” rating and set a $12.50 price objective for the company in a report on Monday, June 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Front Yard Residential currently has a consensus rating of “Hold” and an average target price of $12.38.

A number of hedge funds have recently modified their holdings of the business. Advisor Group Holdings Inc. acquired a new position in shares of Front Yard Residential during the first quarter worth approximately $77,000. Jane Street Group LLC acquired a new position in shares of Front Yard Residential during the first quarter worth approximately $134,000. Arizona State Retirement System acquired a new position in shares of Front Yard Residential during the first quarter worth approximately $144,000. Victory Capital Management Inc. boosted its position in shares of Front Yard Residential by 56.3% during the fourth quarter. Victory Capital Management Inc. now owns 12,071 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 4,346 shares during the period. Finally, Gamco Investors INC. ET AL acquired a new position in shares of Front Yard Residential during the first quarter worth approximately $152,000. Institutional investors own 80.62% of the company’s stock.

Front Yard Residential Company Profile

Front Yard is an industry leader in providing quality, affordable rental homes to America's families. Our homes offer exceptional value in a variety of suburban communities that have easy accessibility to metropolitan areas. Front Yard's tenants enjoy the space and comfort that is unique to single-family housing at reasonable prices.

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Insider Buying and Selling by Quarter for Front Yard Residential (NYSE:RESI)

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