10 hedge funds buy Resolute Forest Products Inc. (RFP) for the first time

Resolute Forest Products Inc. (NYSE:RFP) has made a 153.66% comeback from a 12-month low price of $4.10. It was seen 7.22% higher, changing the price to $10.4, when the closing bell rang on 12/18/2017. At recent session, the prices were hovering between $9.75 and $10.6. This company shares are -21.25% up from its target price of $8.19 and the current market capitalization stands at $941.2M. The recent change has given its price a 32.74% lead over SMA 50 and 6.12% lead over its 52-week high. The stock witnessed 16.85% gains, 116.67% gains and 131.11% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found RFP’s volatility during a week at 5.53% and during a month it has been found around 3.8%.

Resolute Forest Products Inc. (RFP) Top Holders

Institutional investors currently hold around $762 million or 89.8% in RFP stock. Look at its top three institutional owners. Fairfax Financial Holdings Ltd/ Can owns $296.32 million in Resolute Forest Products Inc., which represents roughly 31.48% of the company’s market cap and approximately 38.89% of the institutional ownership. Similar statistics are true for the second largest owner, Donald Smith & Co., Inc., which owns 7,753,044 shares of the stock are valued at $75.21 million. The third largest holder is Acr Alpine Capital Research, Llc, which currently holds $49.92 million worth of this stock and that ownership represents nearly 5.3% of its market capitalization.

Resolute Forest Products Inc. 13F Filings

At the end of 09/30/2017 reporting period, 34 institutional holders increased their position in Resolute Forest Products Inc. (NYSE:RFP) by some 734,923 shares, 48 decreased positions by 1,602,524 and 29 held positions by 76,246,032. That puts total institutional holdings at 78,583,479 shares, according to SEC filings. The stock grabbed 10 new institutional investments totaling 180,082 shares while 18 institutional investors sold out their entire positions totaling 624,147 shares.

Resolute Forest Products Inc. (NYSE:RFP) Insider Trades

Multiple company employees have indulged in significant insider trading. Resolute Forest Products Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Vice President & Treasurer Travaglini Silvana has sold 6,355 shares of Resolute Forest Products Inc. (RFP) in trading session dated Nov. 09, 2017. These shares are worth $55,924 and were traded at $8.8 each. The SEC filing shows that Vachon Jacques P performed a sale of 15,300 shares. The Senior Vice President & CLO disposed these shares by way of transaction on Nov. 08, 2017. The company’s shares were given away at $8.52 per share worth to an income of some $130,356 on account of Vachon Jacques P.

Senior Vice President, Laflamme Yves, sold 20,800 common shares of Resolute Forest Products Inc. (RFP) in the open market. In a transaction dated Nov. 07, 2017, the shares were put up for sale at an average price of $8.19, raking in a sum of $170,352. After this sale, 92,079 common shares of RFP are directly owned by the insider, with total stake valued at $957,622.

In the transaction dated Jun. 15, 2016, the great number of shares acquired came courtesy the Director; Rousseau Michael S added a total of 20,000 shares at an average price of $5.18, amounting to approximately $103,600. The insider now directly owns 59,032 shares worth $613,933.

Resolute Forest Products Inc. (RFP) Analyst Guide

Several analysts have released their opinion on Resolute Forest Products Inc. (NYSE:RFP), with 1 analysts believing it is a strong buy. Whereas 1 of them predict the stock is a hold. Also, there are 0 buy, 0 sell and 1 strong sell ratings, collectively assigning a 3 average brokerage recommendation.

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