Sunday, June 26, 2022

Investing in New Residential Investment Corp. (NRZ) Is Getting More Attractive

New Residential Investment Corp.’s recent filing unveils that its Director MCGINNIS ROBERT acquired Company’s shares for reported $0.1 million on Nov 23. In the deal valued at $25.18 per share,4,000 shares were bought. As a result of this transaction, MCGINNIS ROBERT now holds 4,000 shares worth roughly $ 37600.0.

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Piper Sandler downgraded its New Residential Investment Corp. [NRZ] rating to an Underweight from a a Neutral in a research note published on Tuesday, June 13, 2022; the price target was decreased to $10 from $12. PT values the company’s stock at a premium of 6.0 to its Tuesday closing price. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who decreased its forecast for the stock in early May from “an Overweight” to “a Neutral”.

Price Performance Review of NRZ

On Tuesday, New Residential Investment Corp. [NYSE:NRZ] saw its stock jump 8.67% to $9.40. On the same session, the stock had its day’s lowest price of $8.965, but rose to a high of $9.51. Over the last five days, the stock has gained 3.87%. New Residential Investment Corp. shares have fallen nearly -12.23% since the year began. Nevertheless, the stocks have fallen -12.07% over the past one year. While a 52-week high of $11.81 was reached on 05/04/22, a 52-week low of $8.18 was recorded on 06/16/22. SMA at 50 days reached $10.62, while 200 days put it at $10.82. A total of 14.76 million shares were traded, compared to the trading of 14.96 million shares in the previous session.

Levels Of Support And Resistance For NRZ Stock

The 24-hour chart illustrates a support level at 9.07, which if violated will result in even more drops to 8.75. On the upside, there is a resistance level at 9.62. A further resistance level may holdings at 9.84. The Relative Strength Index (RSI) on the 14-day chart is 39.81, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.50, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 63.42%. Stochastics %K at 21.59% indicates the stock is a holding.

How much short interest is there in New Residential Investment Corp.?

A steep rise in short interest was recorded in New Residential Investment Corp. stocks on Apr 28, 2022, dropping by -1.28 million shares to a total of 10.32 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 11.6 million shares. There was a decline of -12.4%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.22% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.08.

New Residential Investment Corp. [NRZ] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 41,731,933 shares, or roughly 8.94% of the outstanding NRZ shares. In other words, the investor’s shares have risen by 373,597 from its previous 13-F filing of 41358336.0. Additionally, BlackRock Fund Advisors decreased -7.16% of its stake after which the total value it holdings stand at $254,034,136, while FIAM LLC added 23.54% of its stake to hold $117.33 million in the firm. Over the last quarter, Michigan Department of Treasury sold 0 shares of New Residential Investment Corp., while SSgA Funds Management, Inc. sold 489,211 shares. At present, LSV Asset Management is holding 6,507,272 shares valued at $73.53 million. Geode Capital Management LLC owned 6,168,953 shares of the company at the time of its most recent 13F filing, worth $69.71 million.

According to FactSet, New Residential Investment Corp.’s share price will average $12.68 in the next year, based on opinions of analysts polled by the firm. This is up nearly 50.29 percent from its previous closing price of $8.65. Analysts expect New Residential Investment Corp. stock to reach the higher price of $14.25, while the lowest price estimate is $10.00. The most recent change occurred on March 25, 2021 when RBC Capital Mkts began covering the stock and recommended ‘”an Outperform”‘ rating along with a $12 price target.

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