Shares of Resolute Holdings Management, Inc. (NYSE:RHLD) reached a new 52-week high during mid-day trading on November 3, 2023. The stock climbed to a peak of $192.14 before closing at $191.4950, a significant increase from its previous closing price of $180.06. This trading session saw a volume of 56,843 shares exchanged, reflecting active interest in the company’s performance.
Despite this upward movement, analysts have issued warnings regarding the stock’s future. According to a recent report by Weiss Ratings, the firm reaffirmed a “sell (e+)” rating for Resolute Holdings on October 8, 2023. Currently, one analyst has rated the stock with a Sell recommendation, leading to a consensus rating of “Sell” according to MarketBeat.
Financial Performance and Insider Activity
Resolute Holdings released its quarterly earnings data on November 3, 2023, reporting earnings per share (EPS) of $0.13 for the quarter. The company generated revenue of $120.87 million, but it also posted a concerning negative return on equity of 646.55% and a net margin of 23.82%.
In a move that may indicate confidence in the company, Director Timothy O. Mahoney purchased 5,939 shares at an average cost of $168.52 per share on November 7, 2023. This transaction amounted to approximately $1,000,840.28. Following this purchase, Mahoney holds a total of 5,939 shares, reflecting an increase in his stake in the company.
Additionally, Chief Financial Officer Kurt Schoen acquired 1,000 shares at an average price of $164.95 per share on the same day, totaling $164,950.00. After this acquisition, Schoen owns 1,000 shares, which also represents an increase in his shareholding.
Insider transactions over the past ninety days indicate a total purchase of 11,107 shares valued at $1,800,036, suggesting a significant level of insider confidence. Notably, insiders now own 50.80% of the company’s stock.
About Resolute Holdings Management
Resolute Holdings Management, Inc. operates as an alternative asset management platform and was incorporated in 2024. The company is headquartered in New York, New York. As Resolute continues to navigate the complexities of the market, both its stock performance and insider activity will be closely monitored by investors and analysts alike.
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