Altisource Residential Corporation (NYSE:RESI) was the recipient of a large drop in short interest during the month of October. As of October 13th, there was short interest totalling 923,512 shares, a drop of 38.6% from the September 29th total of 1,503,126 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average daily trading volume, of 154,782 shares, the days-to-cover ratio is presently 6.0 days.
Altisource Residential Corporation (NYSE RESI) opened at $10.93 on Tuesday. Altisource Residential Corporation has a one year low of $10.37 and a one year high of $15.66.
RESI has been the topic of a number of research reports. Zacks Investment Research upgraded Altisource Residential Corporation from a “sell” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Thursday, August 31st. Northland Securities reiterated a “buy” rating and issued a $17.00 target price on shares of Altisource Residential Corporation in a research note on Thursday, August 10th. Finally, BidaskClub upgraded Altisource Residential Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Altisource Residential Corporation currently has an average rating of “Hold” and an average target price of $15.38.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hotchkis & Wiley Capital Management LLC bought a new position in Altisource Residential Corporation during the 3rd quarter valued at $186,000. Schwab Charles Investment Management Inc. lifted its position in shares of Altisource Residential Corporation by 5.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 477,745 shares of the real estate investment trust’s stock valued at $5,308,000 after acquiring an additional 26,465 shares during the last quarter. Tahithromos L.L.C. lifted its holdings in shares of Altisource Residential Corporation by 21.3% in the third quarter. Tahithromos L.L.C. now owns 725,335 shares of the real estate investment trust’s stock valued at $8,058,000 after purchasing an additional 127,457 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Altisource Residential Corporation in the third quarter valued at $231,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Altisource Residential Corporation by 73.5% in the third quarter. SG Americas Securities LLC now owns 15,248 shares of the real estate investment trust’s stock valued at $169,000 after purchasing an additional 6,462 shares in the last quarter. 72.09% of the stock is owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY WARNING: This story was first posted by TrueBlueTribune and is owned by of TrueBlueTribune. If you are viewing this story on another website, it was copied illegally and reposted in violation of U.S. and international copyright law. The original version of this story can be read at https://www.truebluetribune.com/2017/11/14/short-interest-in-altisource-residential-corporation-resi-decreases-by-38-6.html.
About Altisource Residential Corporation
Altisource Residential Corporation is a real estate investment trust (REIT). The Company focuses on acquiring, owning and managing single-family rental (SFR) properties throughout the United States. The Company conducts its activities through its subsidiary, Altisource Residential, L.P., and its subsidiaries.
Receive News & Ratings for Altisource Residential Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altisource Residential Corporation and related companies with MarketBeat.com's FREE daily email newsletter.