PEAK6 Investments L.P. Invests $808,000 in Resolute Forest Products Inc (RFP)

PEAK6 Investments L.P. acquired a new position in Resolute Forest Products Inc (NYSE:RFP) (TSE:RFP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 73,163 shares of the basic materials company’s stock, valued at approximately $808,000. PEAK6 Investments L.P. owned about 0.08% of Resolute Forest Products as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RFP. Hillsdale Investment Management Inc. purchased a new stake in Resolute Forest Products in the 3rd quarter worth about $102,000. Brandes Investment Partners LP purchased a new position in Resolute Forest Products during the 3rd quarter valued at about $144,000. Macquarie Group Ltd. purchased a new position in Resolute Forest Products during the 3rd quarter valued at about $157,000. Citadel Advisors LLC grew its holdings in 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 valued at $175,000 after buying an additional 9,889 shares in the last quarter. Finally, CAPROCK Group Inc. purchased a new position in Resolute Forest Products during the 4th quarter valued at about $182,000. 88.25% of the stock is owned by institutional investors.

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A number of research analysts have weighed in on the company. CIBC lowered Resolute Forest Products from an “outperform” rating to a “neutral” rating in a report on Friday, January 12th. TD Securities set a $11.50 target price on Resolute Forest Products and gave the company a “hold” rating in a report on Thursday, January 11th. Scotiabank set a $8.25 target price on Resolute Forest Products and gave the company an “underperform” rating in a report on Friday, February 2nd. Finally, Royal Bank of Canada reduced their target price on Resolute Forest Products from $10.00 to $9.00 and set a “sector perform” rating for the company in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Resolute Forest Products has an average rating of “Hold” and an average target price of $9.08.

Shares of RFP opened at $9.40 on Friday. The stock has a market cap of $807.26, a PE ratio of 68.85 and a beta of 1.57. The company has a quick ratio of 1.23, a current ratio of 2.48 and a debt-to-equity ratio of 0.49. Resolute Forest Products Inc has a 12-month low of $4.10 and a 12-month high of $12.15.

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

In other Resolute Forest Products news, Director Randall C. Benson purchased 4,800 shares of the company’s stock in a transaction dated Tuesday, March 6th. The stock was purchased at an average price of $10.43 per share, for a total transaction of $50,064.00. Following the transaction, the director now owns 8,134 shares in the company, valued at approximately $84,837.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

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Resolute Forest Products 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.

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

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