Trade Report: The Emerald Acquisition Ltd. Acquires 202,658 Shares of Resolute Forest Products Inc. (RFP)

The Emerald Acquisition Ltd. Acquires 202,658  Shares of Resolute Forest Products Inc. (RFP)

Emerald Acquisition Ltd. purchased a new stake in shares of Resolute Forest Products Inc. (NYSE:RFP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 202,658 shares of the company’s stock, valued at approximately $1,072,000. Emerald Acquisition Ltd. owned about 0.23% of Resolute Forest Products at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. acquired a new position in shares of Resolute Forest Products during the first quarter valued at approximately $870,000. Envestnet Asset Management Inc. boosted its position 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 valued at $3,472,000 after buying an additional 65,453 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position 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 valued at $102,000 after buying an additional 7,559 shares during the last quarter. Virginia Retirement System acquired a new position in shares of Resolute Forest Products during the first quarter valued at approximately $366,000. Finally, Chou Associates Management Inc. boosted its position 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 valued at $27,061,000 after buying an additional 199,843 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

Resolute Forest Products Inc. (NYSE:RFP) traded down 0.82% during mid-day trading on Friday, reaching $4.85. 56,156 shares of the company’s stock traded hands. The company has a 50 day moving average price of $5.21 and a 200-day moving average price of $5.48. The stock’s market cap is $434.11 million. Resolute Forest Products Inc. has a 12 month low of $3.79 and a 12 month high of $10.49.

Resolute Forest Products (NYSE:RFP) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.05. The company 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 in the previous year, the business posted $0.07 EPS. On average, analysts anticipate that Resolute Forest Products Inc. will post $0.01 EPS for the current year.

Several research analysts recently commented on the stock. Zacks Investment Research cut shares of Resolute Forest Products from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 22nd. TD Securities restated a “reduce” rating and set a $5.00 target price (up previously from $4.75) on shares of Resolute Forest Products in a report on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Resolute Forest Products presently has an average rating of “Hold” and a consensus price target 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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