Stock Buzzer: Is Buying 52-Week Stock Like New Residential Investment Corp a Winning Strategy?

Stock Buzzer: Is Buying 52 Week Stock Like New Residential Investment Corp a Winning Strategy?

The stock of New Residential Investment Corp (NYSE:NRZ) hit a new 52-week high and has $15.81 target or 3.00% above today’s $15.35 share price. The 5 months bullish chart indicates low risk for the $3.87 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $15.81 price target is reached, the company will be worth $116.10M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.13M shares traded hands. New Residential Investment Corp (NYSE:NRZ) has risen 26.89% since April 25, 2016 and is uptrending. It has outperformed by 20.87% the S&P500.

Analysts await New Residential Investment Corp (NYSE:NRZ) to report earnings on February, 22. They expect $0.52 EPS, 0.00% or $0.00 from last year’s $0.52 per share. NRZ’s profit will be $131.10 million for 7.38 P/E if the $0.52 EPS becomes a reality. After $0.51 actual EPS reported by New Residential Investment Corp for the previous quarter, Wall Street now forecasts 1.96% EPS growth.

New Residential Investment Corp (NYSE:NRZ) Ratings Coverage

Out of 7 analysts covering New Residential Investment Corp (NYSE:NRZ), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. New Residential Investment Corp has been the topic of 10 analyst reports since August 12, 2015 according to StockzIntelligence Inc. On Thursday, February 25 the stock rating was maintained by FBR Capital with “Outperform”. The stock of New Residential Investment Corp (NYSE:NRZ) has “Mkt Outperform” rating given on Wednesday, December 23 by JMP Securities. The stock of New Residential Investment Corp (NYSE:NRZ) has “Neutral” rating given on Wednesday, October 26 by Nomura. The stock of New Residential Investment Corp (NYSE:NRZ) earned “Sell” rating by Zacks on Wednesday, August 12. The firm has “Overweight” rating by Piper Jaffray given on Friday, September 9. Piper Jaffray upgraded New Residential Investment Corp (NYSE:NRZ) on Monday, October 19 to “Overweight” rating. As per Wednesday, May 18, the company rating was downgraded by Compass Point. The stock of New Residential Investment Corp (NYSE:NRZ) has “Outperform” rating given on Thursday, October 6 by Wedbush. The stock has “Overweight” rating given by Barclays Capital on Wednesday, August 10.

According to Zacks Investment Research, “New Residential Investment Corp. is a real estate investment trust. It focuses on investing in, and actively managing, investments related to residential real estate. The Company primarily target investments in excess mortgage servicing rights, residential mortgage backed securities, residential mortgage loans and other related investments. New Residential Investment Corp. is based in New York.”

Insitutional Activity: The institutional sentiment increased to 1.6 in 2016 Q2. Its up 0.68, from 0.92 in 2016Q1. The ratio increased, as 38 funds sold all New Residential Investment Corp shares owned while 66 reduced positions. 28 funds bought stakes while 68 increased positions. They now own 127.17 million shares or 8.82% less from 139.48 million shares in 2016Q1.
Janney Montgomery Scott Limited Liability Company owns 10,280 shares or 0% of their US portfolio. Global X Mgmt Co Limited Co has invested 0.45% of its portfolio in New Residential Investment Corp (NYSE:NRZ). Bankshares Of Hawaii holds 0.02% or 13,195 shares in its portfolio. Capital Invest Advisors Ltd, a Georgia-based fund reported 326,876 shares. Kingstown Mgmt Ltd Partnership, a New York-based fund reported 5.00 million shares. Blackrock Advisors Limited Liability Co holds 0% of its portfolio in New Residential Investment Corp (NYSE:NRZ) for 107,334 shares. Strategic Ltd Llc last reported 34,470 shares in the company. Mackenzie Fincl Corporation holds 0% of its portfolio in New Residential Investment Corp (NYSE:NRZ) for 17,313 shares. Crawford Inv Counsel has 20,710 shares for 0.01% of their US portfolio. Geode Mngmt Limited Liability Corporation holds 1.76 million shares or 0.01% of its portfolio. Sg Americas Ltd Com has invested 0.01% of its portfolio in New Residential Investment Corp (NYSE:NRZ). Manufacturers Life Insur The accumulated 154,594 shares or 0% of the stock. Geneva Limited Company accumulated 32,594 shares or 0.01% of the stock. Ladenburg Thalmann Services holds 3,935 shares or 0% of its portfolio. Legal General Gru Public Limited Liability Company reported 136,853 shares or 0% of all its holdings.

Insider Transactions: Since November 11, 2016, the stock had 1 buying transaction, and 0 sales for $187,708 net activity. $187,708 worth of New Residential Investment Corp (NYSE:NRZ) shares were bought by Sloves Andrew.

NRZ Company Profile

New Residential Investment Corp., incorporated on September 26, 2011, is a real estate investment trust (REIT). The Firm is focused on investing in, and managing, investments related to residential real estate. The Firm conducts its business through the divisions, which include investments in excess mortgage servicing rights (MSRs), investments in servicer advances, investments in real estate securities, investments in real estate loans, investments in consumer loans and corporate. The Company’s portfolio is composed of servicing related assets, residential securities and loans, and other investments.

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