George Whitfield Mcdowell Acquires 5,000 Shares of Front Yard Residential Corp (RESI) Stock

Front Yard Residential Corp (NYSE:RESI) Director George Whitfield Mcdowell bought 5,000 shares of the stock in a transaction dated Monday, May 13th. The stock was purchased at an average cost of $10.87 per share, for a total transaction of $54,350.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

RESI traded down $0.07 during midday trading on Friday, reaching $10.82. 2,967 shares of the company’s stock were exchanged, compared to its average volume of 263,295. Front Yard Residential Corp has a 1-year low of $7.99 and a 1-year high of $13.07.

Front Yard Residential (NYSE:RESI) last announced its earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.37). The business had revenue of $52.63 million for the quarter, compared to analyst estimates of $52.61 million. Front Yard Residential had a negative return on equity of 24.20% and a negative net margin of 62.28%. As a group, research analysts anticipate that Front Yard Residential Corp will post 0.26 earnings per share for the current year.

RESI has been the topic of a number of research analyst reports. Northland Securities reissued a “buy” rating and set a $15.00 price objective on shares of Front Yard Residential in a report on Wednesday, May 8th. Zacks Investment Research downgraded shares of Front Yard Residential from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Front Yard Residential presently has an average rating of “Buy” and an average target price of $14.00.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC raised its position in Front Yard Residential by 7.3% during the first quarter. FMR LLC now owns 3,960,042 shares of the real estate investment trust’s stock worth $36,709,000 after acquiring an additional 270,400 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Front Yard Residential in the first quarter valued at approximately $466,000. BlueCrest Capital Management Ltd acquired a new position in shares of Front Yard Residential in the first quarter valued at approximately $181,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Front Yard Residential by 4.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 34,466 shares of the real estate investment trust’s stock valued at $319,000 after buying an additional 1,375 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Front Yard Residential by 1.9% in the first quarter. Morgan Stanley now owns 1,642,189 shares of the real estate investment trust’s stock valued at $15,222,000 after buying an additional 31,091 shares during the last quarter. Institutional investors own 71.60% of the company’s stock.

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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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