Insider Selling: Rithm Capital (NYSE:RITM) CFO Sells $951,000.00 in Stock

Rithm Capital Corp. (NYSE:RITM) CFO Nicola Santoro, Jr. sold 100,000 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $9.51, for a total value of $951,000.00. Following the completion of the sale, the chief financial officer directly owned 81,281 shares in the company, valued at $772,982.31. This represents a 55.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rithm Capital Stock Performance

RITM stock opened at $9.23 on Friday. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.58 and a current ratio of 0.55. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 0.57 and a beta of 1.16. Rithm Capital Corp. has a 1 year low of $8.31 and a 1 year high of $12.15. The stock’s fifty day moving average is $9.23 and its two-hundred day moving average is $9.67.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Friday, October 23rd. The real estate investment trust reported $0.55 EPS for the quarter, topping the consensus estimate of $0.50 by $0.05. Rithm Capital had a net margin of 8.71% and a return on equity of 20.03%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.47 billion. On average, research analysts predict that Rithm Capital Corp. will post 2.32 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Thursday, October 1st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 10.8%. The ex-dividend date of this dividend was Thursday, October 1st. Rithm Capital’s payout ratio is presently 158.73%.

Analysts Set New Price Targets

Several equities research analysts have commented on RITM shares. BTIG Research dropped their price target on shares of Rithm Capital from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Weiss Ratings downgraded Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. Keefe, Bruyette & Woods increased their price objective on Rithm Capital from $12.50 to $13.00 and gave the stock an “outperform” rating in a report on Tuesday, October 27th. Wall Street Zen upgraded Rithm Capital from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, UBS Group lowered their target price on Rithm Capital from $14.50 to $14.00 and set a “buy” rating on the stock in a research report on Friday, August 21st. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Rithm Capital has a consensus rating of “Moderate Buy” and an average target price of $12.80.

Hedge Funds Weigh In On Rithm Capital

Several large investors have recently bought and sold shares of RITM. Moors & Cabot Inc. increased its holdings in shares of Rithm Capital by 223.7% in the third quarter. Moors & Cabot Inc. now owns 40,067 shares of the real estate investment trust’s stock valued at $358,000 after buying an additional 27,688 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Rithm Capital by 24.9% during the 3rd quarter. Fifth Third Bancorp now owns 6,241 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 1,244 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of Rithm Capital by 48.2% during the 3rd quarter. Maryland State Retirement & Pension System now owns 156,758 shares of the real estate investment trust’s stock worth $1,400,000 after acquiring an additional 50,996 shares in the last quarter. Lido Advisors LLC boosted its stake in shares of Rithm Capital by 17.3% during the 3rd quarter. Lido Advisors LLC now owns 187,508 shares of the real estate investment trust’s stock worth $1,674,000 after acquiring an additional 27,707 shares in the last quarter. Finally, Fulcrum Asset Management LLP acquired a new position in shares of Rithm Capital in the 3rd quarter worth $463,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Company Profile

Rithm Capital Corp. is a real estate investment trust and financial services company focused primarily on residential real estate and mortgage-related investments. Formerly known as New Residential Investment Corp., the company adopted the Rithm Capital name in 2022.

Through its operating businesses and investment platforms, Rithm participates in mortgage servicing, mortgage origination, residential mortgage loans, mortgage servicing rights and other housing-related assets. Its businesses include Newrez, a mortgage platform that provides home loan origination, servicing and related services, as well as other investments connected to residential real estate and private lending.

Rithm primarily serves the U.S.