Altisource Residential Corporation (RESI) Short Interest Down 38.6% in October

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.

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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.

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