Front Yard Residential Corp (RESI) Major Shareholder Purchases $2,275,000.00 in Stock

Front Yard Residential Corp (NYSE:RESI) major shareholder Deer Park Road Management Comp purchased 250,000 shares of the stock in a transaction that occurred on Tuesday, December 4th. The stock was purchased at an average price of $9.10 per share, with a total value of $2,275,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

  • On Thursday, November 29th, Deer Park Road Management Comp purchased 300,000 shares of Front Yard Residential stock. The stock was purchased at an average price of $8.59 per share, with a total value of $2,577,000.00.

Front Yard Residential stock traded down $0.01 during mid-day trading on Friday, reaching $9.69. 567,198 shares of the company were exchanged, compared to its average volume of 753,383. Front Yard Residential Corp has a 12-month low of $7.99 and a 12-month high of $13.07.

Front Yard Residential (NYSE:RESI) last posted its earnings results on Wednesday, November 7th. The real estate investment trust reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.93). The company had revenue of $48.31 million for the quarter, compared to analysts’ expectations of $47.33 million. Front Yard Residential had a negative return on equity of 22.74% and a negative net margin of 85.55%. Analysts anticipate that Front Yard Residential Corp will post 0.14 earnings per share for the current fiscal year.

RESI has been the subject of a number of analyst reports. Zacks Investment Research lowered Front Yard Residential from a “hold” rating to a “sell” rating in a report on Saturday. Deutsche Bank lowered their target price on Front Yard Residential from $14.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, November 20th. Finally, Credit Suisse Group upped their target price on Front Yard Residential from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, August 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Front Yard Residential presently has an average rating of “Hold” and a consensus price target of $14.00.

A number of institutional investors have recently bought and sold shares of RESI. Renaissance Technologies LLC lifted its holdings in Front Yard Residential by 846.6% during the second quarter. Renaissance Technologies LLC now owns 517,700 shares of the real estate investment trust’s stock worth $5,394,000 after buying an additional 463,008 shares during the period. Millennium Management LLC lifted its holdings in Front Yard Residential by 33.4% during the second quarter. Millennium Management LLC now owns 1,250,176 shares of the real estate investment trust’s stock worth $13,027,000 after buying an additional 313,330 shares during the period. Vanguard Group Inc. lifted its holdings in Front Yard Residential by 1.8% during the third quarter. Vanguard Group Inc. now owns 7,054,282 shares of the real estate investment trust’s stock worth $76,539,000 after buying an additional 127,899 shares during the period. American Century Companies Inc. lifted its holdings in Front Yard Residential by 77.7% during the second quarter. American Century Companies Inc. now owns 291,109 shares of the real estate investment trust’s stock worth $3,033,000 after buying an additional 127,268 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Front Yard Residential during the third quarter worth $1,363,000. Institutional investors own 72.08% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was originally reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this piece on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this piece can be viewed at https://www.chaffeybreeze.com/2018/12/08/front-yard-residential-corp-resi-major-shareholder-purchases-2275000-00-in-stock.html.

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 which 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.

Further Reading: Why do corrections happen?

Receive News & Ratings for Front Yard Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Front Yard Residential and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply