Today, Altisource Residential Corp. (RESI) Earns Hold Rating from JMP Securities

Today, Altisource Residential Corp. (RESI) Earns Hold Rating from JMP Securities

JMP Securities reiterated their hold rating on shares of Altisource Residential Corp. (NYSE:RESI) in a research note published on Thursday.

RESI has been the topic of several other reports. Zacks Investment Research upgraded Altisource Residential Corp. from a strong sell rating to a hold rating in a research note on Wednesday, October 19th. Northland Securities started coverage on Altisource Residential Corp. in a research note on Thursday, August 18th. They set an outperform rating on the stock. Nomura reiterated a buy rating and set a $15.00 target price on shares of Altisource Residential Corp. in a research note on Friday, September 23rd. Deutsche Bank AG set a $18.50 target price on Altisource Residential Corp. and gave the company a buy rating in a research note on Thursday, August 18th. Finally, Citigroup Inc. increased their target price on Altisource Residential Corp. from $9.00 to $11.00 and gave the company a neutral rating in a research note on Wednesday, August 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Altisource Residential Corp. currently has a consensus rating of Hold and a consensus price target of $14.42.

Shares of Altisource Residential Corp. (NYSE:RESI) opened at 11.98 on Thursday. Altisource Residential Corp. has a 1-year low of $7.81 and a 1-year high of $14.07. The company’s market capitalization is $645.35 million. The company’s 50 day moving average price is $10.74 and its 200-day moving average price is $10.20.

Altisource Residential Corp. (NYSE:RESI) last posted its quarterly earnings results on Monday, November 7th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.48) by $0.58. The company earned $4.40 million during the quarter, compared to analysts’ expectations of $27.97 million. Altisource Residential Corp. had a negative return on equity of 16.34% and a negative net margin of 338.43%. During the same quarter in the previous year, the company earned ($0.09) EPS. On average, equities analysts forecast that Altisource Residential Corp. will post ($2.82) earnings per share for the current year.

In other news, CEO George G. Ellison purchased 22,000 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were purchased at an average cost of $11.30 per share, for a total transaction of $248,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David B. Reiner purchased 3,500 shares of the company’s stock in a transaction dated Thursday, November 17th. The stock was purchased at an average price of $11.57 per share, for a total transaction of $40,495.00. The disclosure for this purchase can be found here. Company insiders own 0.12% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its position in Altisource Residential Corp. by 15.2% in the second quarter. BlackRock Fund Advisors now owns 2,454,864 shares of the company’s stock worth $22,560,000 after buying an additional 324,530 shares during the period. Ameriprise Financial Inc. increased its position in Altisource Residential Corp. by 58.7% in the third quarter. Ameriprise Financial Inc. now owns 611,256 shares of the company’s stock worth $6,663,000 after buying an additional 226,168 shares during the period. Emerald Acquisition Ltd. purchased a new position in Altisource Residential Corp. during the second quarter worth about $1,521,000. A.R.T. Advisors LLC purchased a new position in Altisource Residential Corp. during the second quarter worth about $1,456,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Altisource Residential Corp. during the third quarter worth about $1,709,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.

About Altisource Residential Corp.

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