Insider Buying: Front Yard Residential Corp (RESI) Major Shareholder Acquires $2,577,000.00 in Stock
Front Yard Residential Corp (NYSE:RESI) major shareholder Deer Park Road Management Comp bought 300,000 shares of Front Yard Residential stock in a transaction dated Thursday, November 29th. The stock was purchased at an average cost of $8.59 per share, for a total transaction of $2,577,000.00. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
NYSE RESI opened at $9.30 on Thursday. Front Yard Residential Corp has a 12 month low of $7.99 and a 12 month high of $13.07.
Front Yard Residential (NYSE:RESI) last posted its quarterly earnings results on Wednesday, November 7th. The real estate investment trust reported ($0.89) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.93). The company had revenue of $48.31 million during the quarter, compared to the consensus estimate of $47.33 million. Front Yard Residential had a negative return on equity of 22.74% and a negative net margin of 85.55%. As a group, research analysts expect that Front Yard Residential Corp will post 0.14 EPS for the current year.
A number of research analysts have recently commented on the stock. Credit Suisse Group upped their price target on shares of Front Yard Residential from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, August 10th. Zacks Investment Research cut shares of Front Yard Residential from a “hold” rating to a “sell” rating in a report on Friday, August 17th. Finally, Deutsche Bank cut their price target on shares of Front Yard Residential from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, November 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $14.00.
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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 which 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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