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Why Rithm Capital Corporation (RITM) Stock Could See Much Higher Prices Ahead

Rithm Capital Corporation (NYSE: RITM) is 2.34% higher on its value in year-to-date trading and has touched a low of $7.59 and a high of $11.33 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The RITM stock was last observed hovering at around $11.16 in the last trading session, with the day’s loss setting it -0.23%.

Currently trading at $10.93, the stock is -0.88% and 1.27% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.84 million and changing -2.06% at the moment leaves the stock 7.98% off its SMA200. RITM registered 36.63% gain for a year compared to 6-month gain of 18.03%.

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The stock witnessed a 0.83% loss in the last 1 month and extending the period to 3 months gives it a 0.92%, and is -1.80% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.38% over the week and 1.55% over the month.

Rithm Capital Corporation (RITM) has around 6570 employees, a market worth around $5.28B and $3.79B in sales. Current P/E ratio is 9.92 and Fwd P/E is 6.01. Profit margin for the company is 14.04%. Distance from 52-week low is 44.10% and -3.53% from its 52-week high. The company has generated returns on investments over the last 12 months (1.71%).

Rithm Capital Corporation quarterly earnings per share for the current quarter are estimated at $0.37 with sales reaching $451.76M over the same period.The EPS is expected to shrink by -19.38% this year, but quarterly earnings will post 8.50% year-over-year. Quarterly sales are estimated to grow 30.30% in year-over-year returns.

Rithm Capital Corporation (RITM) Top Institutional Holders

548 institutions hold shares in Rithm Capital Corporation (RITM), with institutional investors hold 48.25% of the company’s shares. The shares outstanding are 483.23M, and float is at 480.56M with Short Float at 1.38%. Institutions hold 47.93% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 46.25 million shares valued at $432.46 million. The investor’s holdings represent 9.57% of the RITM Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 26.31 million shares valued at $245.96 million to account for 5.44% of the shares outstanding. The other top investors are Geode Capital Management, LLC which holds 9.09 million shares representing 1.88% and valued at over $84.97 million, while Bank of America Corporation holds 1.78% of the shares totaling 8.61 million with a market value of $80.5 million.

Rithm Capital Corporation (RITM) Insider Activity

The most recent transaction is an insider purchase by Rithm Capital Corp.,the company’s10% Owner. SEC filings show that Rithm Capital Corp. bought 29,664,827 shares of the company’s common stock on Nov 17 ’23 at a price of $12.70 per share for a total of $376.74 million. Following the purchase, the insider now owns 1000.0 shares.

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