Resolute Forest Products Inc (RFP) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC raised its position in Resolute Forest Products Inc (NYSE:RFP) (TSE:RFP) by 105.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,278,000 shares of the basic materials company’s stock after buying an additional 654,700 shares during the period. Renaissance Technologies LLC owned about 1.42% of Resolute Forest Products worth $14,122,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Hillsdale Investment Management Inc. acquired a new position in shares of Resolute Forest Products during the 3rd quarter worth approximately $102,000. Macquarie Group Ltd. acquired a new position in shares of Resolute Forest Products during the 3rd quarter worth approximately $157,000. Citadel Advisors LLC boosted its holdings in shares of Resolute Forest Products by 40.0% during the 3rd quarter. Citadel Advisors LLC now owns 34,598 shares of the basic materials company’s stock worth $175,000 after purchasing an additional 9,889 shares during the last quarter. CAPROCK Group Inc. acquired a new position in shares of Resolute Forest Products during the 4th quarter worth approximately $182,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Resolute Forest Products during the 4th quarter worth approximately $219,000. Institutional investors own 88.25% of the company’s stock.

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In other Resolute Forest Products news, Director Randall C. Benson acquired 4,800 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The shares were purchased at an average cost of $10.43 per share, for a total transaction of $50,064.00. Following the completion of the acquisition, the director now owns 8,134 shares of the company’s stock, valued at approximately $84,837.62. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Several research analysts have recently weighed in on RFP shares. TD Securities set a $11.50 target price on Resolute Forest Products and gave the stock a “hold” rating in a report on Thursday, January 11th. CIBC cut Resolute Forest Products from an “outperform” rating to a “neutral” rating in a report on Friday, January 12th. Royal Bank of Canada lowered their target price on Resolute Forest Products from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Friday, February 2nd. Finally, Scotiabank restated a “sell” rating and set a $8.75 target price on shares of Resolute Forest Products in a report on Wednesday, March 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Resolute Forest Products has an average rating of “Hold” and a consensus price target of $9.08.

Shares of Resolute Forest Products stock opened at $8.30 on Monday. The company has a market cap of $748.64, a PE ratio of 63.85 and a beta of 1.71. Resolute Forest Products Inc has a 1-year low of $4.10 and a 1-year high of $12.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.23 and a current ratio of 2.48.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last issued its earnings results on Thursday, February 1st. The basic materials company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.47). The company had revenue of $898.00 million for the quarter. Resolute Forest Products had a positive return on equity of 0.74% and a negative net margin of 2.39%. Resolute Forest Products’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.03) EPS.

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Resolute Forest Products Company Profile

Resolute Forest Products Inc operates in the forest products industry in the United States, Canada, Mexico, and internationally. The company operates in five segments: Market Pulp, Tissue, Wood Products, Newsprint, and Specialty Papers. The Market Pulp segment offers market, recycled bleached Kraft, and bleached hardwood Kraft pulp used to make a range of consumer products, including tissue, packaging, specialty paper products, diapers, and other absorbent products.

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Institutional Ownership by Quarter for Resolute Forest Products (NYSE:RFP)

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