WCG Wealth Advisors LLC Takes $231,000 Position in Rithm Capital Corp. (NYSE:RITM)

WCG Wealth Advisors LLC acquired a new position in shares of Rithm Capital Corp. (NYSE:RITM) in the second quarter, Holdings Channel reports. The institutional investor acquired 21,200 shares of the real estate investment trust’s stock, valued at approximately $231,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in Rithm Capital during the fourth quarter worth about $63,896,000. Long Pond Capital LP purchased a new position in shares of Rithm Capital during the 1st quarter worth approximately $53,025,000. MGO One Seven LLC increased its holdings in Rithm Capital by 4,525.1% in the 4th quarter. MGO One Seven LLC now owns 768,511 shares of the real estate investment trust’s stock valued at $8,208,000 after purchasing an additional 751,895 shares during the last quarter. Allianz Asset Management GmbH raised its position in Rithm Capital by 107.7% in the fourth quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock valued at $12,510,000 after purchasing an additional 607,413 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Rithm Capital by 0.8% during the first quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock worth $511,305,000 after purchasing an additional 378,931 shares in the last quarter. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Stock Down 0.3 %

Shares of Rithm Capital stock opened at $11.88 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.81. Rithm Capital Corp. has a 52-week low of $8.87 and a 52-week high of $12.02. The company has a market capitalization of $5.74 billion, a P/E ratio of 7.92 and a beta of 1.80. The company has a 50 day moving average of $11.49 and a 200 day moving average of $11.19.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.05. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 EPS. As a group, research analysts forecast that Rithm Capital Corp. will post 1.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RITM. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Tuesday, August 13th. Wedbush reiterated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research note on Friday, August 16th. Finally, JMP Securities raised their price objective on shares of Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.60.

Rithm Capital Company Profile

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.