Front Yard Residential (RESI) Sees Strong Trading Volume Following Insider Buying Activity

Shares of Front Yard Residential Corp (NYSE:RESI) saw unusually-high trading volume on Tuesday after an insider bought additional shares in the company. Approximately 1,012,853 shares were traded during trading, an increase of 172% from the previous session’s volume of 371,763 shares.The stock last traded at $11.69 and had previously closed at $10.95.

Specifically, Director Rochelle R. Dobbs bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average cost of $10.87 per share, for a total transaction of $271,750.00. Following the transaction, the director now directly owns 23,642 shares in the company, valued at $256,988.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director George Whitfield Mcdowell purchased 5,000 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was purchased at an average price of $10.87 per share, for a total transaction of $54,350.00. The disclosure for this purchase can be found here. 0.88% of the stock is owned by company insiders.

RESI has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Front Yard Residential from a “hold” rating to a “sell” rating in a research report on Wednesday, March 13th. Northland Securities restated a “buy” rating and issued a $15.00 price target on shares of Front Yard Residential in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Front Yard Residential currently has an average rating of “Buy” and an average price target of $14.00.

Front Yard Residential (NYSE:RESI) last issued its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.37). The firm had revenue of $52.63 million during 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, equities analysts predict that Front Yard Residential Corp will post 0.26 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Front Yard Residential by 4.2% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 34,466 shares of the real estate investment trust’s stock valued at $319,000 after acquiring an additional 1,375 shares in the last quarter. Joseph P. Lucia & Associates LLC bought a new stake in shares of Front Yard Residential in the 1st quarter valued at $225,000. The Manufacturers Life Insurance Company increased its stake in shares of Front Yard Residential by 6.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 34,440 shares of the real estate investment trust’s stock valued at $319,000 after acquiring an additional 2,208 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Front Yard Residential by 1.8% in the 1st quarter. Hsbc Holdings PLC now owns 127,548 shares of the real estate investment trust’s stock valued at $1,182,000 after acquiring an additional 2,279 shares in the last quarter. Finally, Boston Partners increased its stake in shares of Front Yard Residential by 2.3% in the 4th quarter. Boston Partners now owns 103,653 shares of the real estate investment trust’s stock valued at $905,000 after acquiring an additional 2,290 shares in the last quarter. Hedge funds and other institutional investors own 71.60% of the company’s stock.

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Front Yard Residential Company Profile (NYSE:RESI)

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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