The Alpine Investment Management LLC Acquires 560,048 Shares of Resolute Forest Products Inc. (RFP)

The Alpine Investment Management LLC Acquires 560,048 Shares of Resolute Forest Products Inc. (RFP)

Alpine Investment Management LLC boosted its position in Resolute Forest Products Inc. (NYSE:RFP) by 11.5% during the second quarter, Holdings Channel reports. The institutional investor owned 5,438,914 shares of the company’s stock after buying an additional 560,048 shares during the period. Resolute Forest Products makes up about 2.2% of Alpine Investment Management LLC’s investment portfolio, making the stock its 14th largest position. Alpine Investment Management LLC owned about 0.06% of Resolute Forest Products worth $28,772,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of RFP. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Resolute Forest Products during the first quarter worth about $870,000. Envestnet Asset Management Inc. boosted its stake in shares of Resolute Forest Products by 11.6% in the first quarter. Envestnet Asset Management Inc. now owns 630,160 shares of the company’s stock worth $3,472,000 after buying an additional 65,453 shares in the last quarter. Bogle Investment Management L P DE boosted its stake in shares of Resolute Forest Products by 10.6% in the first quarter. Bogle Investment Management L P DE now owns 239,635 shares of the company’s stock worth $1,320,000 after buying an additional 22,922 shares in the last quarter. Chou Associates Management Inc. boosted its stake in shares of Resolute Forest Products by 4.2% in the first quarter. Chou Associates Management Inc. now owns 4,904,752 shares of the company’s stock worth $27,061,000 after buying an additional 199,843 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Resolute Forest Products by 68.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 18,599 shares of the company’s stock worth $102,000 after buying an additional 7,559 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.

Shares of Resolute Forest Products Inc. (NYSE:RFP) traded down 0.84% on Monday, reaching $4.75. 118,787 shares of the company’s stock traded hands. Resolute Forest Products Inc. has a one year low of $3.79 and a one year high of $9.55. The company’s 50-day moving average price is $5.07 and its 200 day moving average price is $5.46. The firm’s market cap is $425.16 million.

Resolute Forest Products (NYSE:RFP) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.05. The firm earned $891 million during the quarter, compared to analyst estimates of $934 million. Resolute Forest Products had a negative net margin of 7.57% and a negative return on equity of 1.22%. During the same quarter last year, the business posted $0.07 EPS. On average, equities analysts forecast that Resolute Forest Products Inc. will post $0.01 EPS for the current fiscal year.

A number of equities research analysts have recently issued reports on the company. TD Securities restated a “reduce” rating and set a $5.00 price objective (up previously from $4.75) on shares of Resolute Forest Products in a report on Wednesday, August 10th. Zacks Investment Research cut Resolute Forest Products from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $7.03.

About Resolute Forest Products

Resolute Forest Products Inc offers a range of forest products, including market pulp, tissue, wood products, newsprint and specialty papers. The Company owns or operates over 40 pulp, paper, tissue and wood products facilities in the United States, Canada and South Korea, as well as power generation assets in Canada.

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