Short Interest in Front Yard Residential Corp (NYSE:RESI) Decreases By 10.7%
Front Yard Residential Corp (NYSE:RESI) was the recipient of a significant decline in short interest in June. As of June 30th, there was short interest totalling 1,812,100 shares, a decline of 10.7% from the May 30th total of 2,030,300 shares. Based on an average daily volume of 299,900 shares, the short-interest ratio is presently 6.0 days. Approximately 3.7% of the company’s stock are sold short.
RESI stock traded up $0.04 during trading on Friday, reaching $12.15. The stock had a trading volume of 162,992 shares, compared to its average volume of 280,536. Front Yard Residential has a one year low of $7.99 and a one year high of $13.07. The stock has a 50 day moving average price of $11.87.
Front Yard Residential (NYSE:RESI) last issued its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported ($0.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.37). Front Yard Residential had a negative return on equity of 24.20% and a negative net margin of 62.28%. The firm had revenue of $52.63 million during the quarter, compared to the consensus estimate of $52.61 million. As a group, research analysts predict that Front Yard Residential will post 0.26 earnings per share for the current fiscal year.
In other Front Yard Residential news, Director Rochelle R. Dobbs bought 25,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was bought at an average cost of $10.87 per share, with a total value of $271,750.00. Following the completion of the transaction, the director now directly owns 23,642 shares in the company, valued at approximately $256,988.54. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rochelle R. Dobbs bought 10,000 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were acquired at an average cost of $11.59 per share, with a total value of $115,900.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 50,000 shares of company stock valued at $555,800. Insiders own 0.88% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp grew its position in Front Yard Residential by 20.5% in the 4th quarter. Bank of New York Mellon Corp now owns 330,923 shares of the real estate investment trust’s stock worth $2,889,000 after purchasing an additional 56,289 shares in the last quarter. Rhumbline Advisers boosted its stake in Front Yard Residential by 48.4% in the fourth quarter. Rhumbline Advisers now owns 82,289 shares of the real estate investment trust’s stock valued at $718,000 after acquiring an additional 26,821 shares during the last quarter. Monarch Partners Asset Management LLC purchased a new position in Front Yard Residential in the first quarter valued at about $3,981,000. Dimensional Fund Advisors LP boosted its stake in Front Yard Residential by 323.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 217,428 shares of the real estate investment trust’s stock valued at $1,898,000 after acquiring an additional 166,122 shares during the last quarter. Finally, Menta Capital LLC purchased a new position in Front Yard Residential in the fourth quarter valued at about $1,356,000. 73.84% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently commented on RESI. Zacks Investment Research downgraded shares of W. R. Grace & Co from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Northland Securities set a $13.00 target price on shares of Nabriva Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, May 8th.
About Front Yard Residential
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 that 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.
Recommended Story: What is the Quick Ratio?
Receive News & Ratings for Front Yard Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Front Yard Residential and related companies with MarketBeat.com's FREE daily email newsletter.