Rithm Capital Corp. (NYSE:RITM) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. raised its position in Rithm Capital Corp. (NYSE:RITM) by 14.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 465,232 shares of the real estate investment trust’s stock after purchasing an additional 57,345 shares during the quarter. Edgestream Partners L.P.’s holdings in Rithm Capital were worth $5,076,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Bessemer Group Inc. acquired a new stake in shares of Rithm Capital in the first quarter valued at approximately $30,000. Raleigh Capital Management Inc. increased its stake in shares of Rithm Capital by 125.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 1,661 shares during the period. Abich Financial Wealth Management LLC increased its stake in shares of Rithm Capital by 56.8% during the first quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 1,461 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of Rithm Capital during the first quarter valued at approximately $62,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Rithm Capital during the first quarter valued at approximately $71,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Trading Down 0.2 %

Rithm Capital stock opened at $11.89 on Wednesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 7.92 and a beta of 1.80. Rithm Capital Corp. has a 1 year low of $8.87 and a 1 year high of $11.97. The firm’s 50 day moving average price is $11.44 and its two-hundred day moving average price is $11.17.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RITM shares. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Tuesday, August 13th. Wedbush reiterated an “outperform” rating and set a $13.00 price objective 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 research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rithm Capital presently has a consensus rating of “Moderate Buy” and an average target price of $12.60.

About Rithm Capital

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.