Fosun International Ltd raised its stake in shares of Resolute Forest Products (NYSE:RFP) (TSE:RFP) by 45.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,000 shares of the basic materials company’s stock after purchasing an additional 25,000 shares during the period. Fosun International Ltd owned 0.09% of Resolute Forest Products worth $104,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Resolute Forest Products by 40.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,623,289 shares of the basic materials company’s stock worth $6,818,000 after purchasing an additional 471,075 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Resolute Forest Products by 17.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,230,138 shares of the basic materials company’s stock worth $5,167,000 after buying an additional 178,538 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Resolute Forest Products during the 1st quarter worth approximately $44,000. Geode Capital Management LLC raised its holdings in shares of Resolute Forest Products by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 871,460 shares of the basic materials company’s stock valued at $3,659,000 after acquiring an additional 50,642 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Resolute Forest Products by 10.0% during the fourth quarter. Acadian Asset Management LLC now owns 2,859,304 shares of the basic materials company’s stock valued at $12,010,000 after acquiring an additional 260,949 shares during the last quarter. Institutional investors and hedge funds own 87.63% of the company’s stock.
Shares of RFP stock traded down $0.04 during trading hours on Friday, reaching $1.86. The company had a trading volume of 159,750 shares, compared to its average volume of 216,688. Resolute Forest Products has a 12-month low of $1.14 and a 12-month high of $7.33. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.55 and a current ratio of 3.21. The company has a market capitalization of $165.98 million, a price-to-earnings ratio of -1.86 and a beta of 2.76. The stock has a fifty day moving average of $1.74 and a 200-day moving average of $3.00.
Resolute Forest Products (NYSE:RFP) (TSE:RFP) last issued its earnings results on Thursday, April 30th. The basic materials company reported ($0.33) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.33). Resolute Forest Products had a negative return on equity of 7.47% and a negative net margin of 3.19%. The company had revenue of $689.00 million during the quarter.
RFP has been the subject of several research reports. TD Securities boosted their price target on Resolute Forest Products from $1.50 to $2.75 and gave the stock a “hold” rating in a research report on Friday, May 1st. Royal Bank of Canada reaffirmed a “buy” rating and set a $3.00 target price on shares of Resolute Forest Products in a research note on Friday, May 1st. Finally, CIBC reiterated a “buy” rating and issued a $4.50 target price on shares of Resolute Forest Products in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $4.81.
About Resolute Forest Products
Resolute Forest Products Inc operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates through five segments: Market Pulp, Tissue, Wood Products, Newsprint, and Specialty Papers. The Market Pulp segment offers virgin and recycled bleached Kraft used to make a range of consumer products, including tissue, packaging, specialty paper products, diapers, and other absorbent products.
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