Arena Investors LP bought a new position in Resolute Forest Products Inc. (NYSE:RFP – Get Rating) (TSE:RFP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 380,607 shares of the basic materials company's stock, valued at approximately $7,612,000. Resolute Forest Products comprises about 3.6% of Arena Investors LP's investment portfolio, making the stock its 5th largest position.
Other institutional investors and hedge funds have also bought and sold shares of the company. Captrust Financial Advisors raised its stake in shares of Resolute Forest Products by 146.3% in the first quarter. Captrust Financial Advisors now owns 3,005 shares of the basic materials company's stock worth $39,000 after buying an additional 1,785 shares during the period. Founders Capital Management raised its stake in shares of Resolute Forest Products by 40.0% in the second quarter. Founders Capital Management now owns 3,500 shares of the basic materials company's stock worth $45,000 after buying an additional 1,000 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of Resolute Forest Products by 64.7% in the first quarter. Great West Life Assurance Co. Can now owns 3,749 shares of the basic materials company's stock worth $51,000 after buying an additional 1,473 shares during the period. Toronto Dominion Bank raised its stake in shares of Resolute Forest Products by 16,255.2% in the second quarter. Toronto Dominion Bank now owns 4,743 shares of the basic materials company's stock worth $61,000 after buying an additional 4,714 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Resolute Forest Products in the second quarter worth about $78,000. 89.00% of the stock is owned by hedge funds and other institutional investors.
Get Resolute Forest Products alerts:Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. StockNews.com raised Resolute Forest Products from a "buy" rating to a "strong-buy" rating in a research note on Monday, November 7th. Royal Bank of Canada downgraded Resolute Forest Products from an "outperform" rating to a "sector perform" rating and set a $23.00 target price on the stock. in a research note on Tuesday, October 18th.
Resolute Forest Products Price Performance
RFP traded up $0.03 on Tuesday, hitting $21.28. 1,351 shares of the company's stock traded hands, compared to its average volume of 488,234. The company's 50 day simple moving average is $21.17 and its 200-day simple moving average is $20.53. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 3.91 and a beta of 2.51. Resolute Forest Products Inc. has a one year low of $11.00 and a one year high of $21.96. The company has a current ratio of 2.91, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14.Resolute Forest Products (NYSE:RFP – Get Rating) (TSE:RFP) last released its quarterly earnings data on Thursday, November 3rd. The basic materials company reported $1.08 earnings per share (EPS) for the quarter. Resolute Forest Products had a return on equity of 24.51% and a net margin of 11.15%. The business had revenue of $974.00 million for the quarter.
Insiders Place Their Bets
In other Resolute Forest Products news, insider Patrice Minguez sold 47,594 shares of Resolute Forest Products stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $21.02, for a total value of $1,000,425.88. Following the sale, the insider now owns 123,114 shares of the company's stock, valued at approximately $2,587,856.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Richard Joseph Tremblay sold 10,930 shares of Resolute Forest Products stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $21.16, for a total value of $231,278.80. Following the completion of the transaction, the senior vice president now owns 187,140 shares in the company, valued at approximately $3,959,882.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Patrice Minguez sold 47,594 shares of Resolute Forest Products stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $21.02, for a total value of $1,000,425.88. Following the completion of the transaction, the insider now owns 123,114 shares of the company's stock, valued at approximately $2,587,856.28. The disclosure for this sale can be found here. Insiders have sold a total of 63,377 shares of company stock valued at $1,334,443 in the last quarter. 1.30% of the stock is currently owned by insiders.
Resolute Forest Products Company Profile
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Resolute Forest Products Inc, together with its subsidiaries, operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates through four segments: Market Pulp, Tissue, Wood Products, and Paper. The Market Pulp segment offers virgin and recycled bleached Kraft pulp, which is used to make a range of consumer products, including tissue, packaging, specialty paper products, diapers, and other absorbent products.
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