WCG Wealth Advisors LLC Makes New $231,000 Investment in Rithm Capital Corp. (NYSE:RITM)

WCG Wealth Advisors LLC bought a new stake in shares of Rithm Capital Corp. (NYSE:RITM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 21,200 shares of the real estate investment trust’s stock, valued at approximately $231,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Rithm Capital during the fourth quarter worth approximately $63,896,000. Long Pond Capital LP acquired a new stake in Rithm Capital in the 1st quarter valued at $53,025,000. MGO One Seven LLC grew its stake in Rithm Capital by 4,525.1% in the 4th quarter. MGO One Seven LLC now owns 768,511 shares of the real estate investment trust’s stock valued at $8,208,000 after acquiring an additional 751,895 shares during the period. Allianz Asset Management GmbH increased its holdings in Rithm Capital by 107.7% in the 4th quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock worth $12,510,000 after acquiring an additional 607,413 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Rithm Capital by 0.8% during the first quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock worth $511,305,000 after acquiring an additional 378,931 shares during the period. 44.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Tuesday, August 13th. Wedbush reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Friday, August 16th. Finally, JMP Securities lifted their price target on Rithm Capital from $11.00 to $12.50 and gave the stock 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 given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.60.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $11.88 on Friday. 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 business’s 50 day moving average price is $11.49 and its 200 day moving average price is $11.19. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 7.92 and a beta of 1.80. Rithm Capital Corp. has a one year low of $8.87 and a one year high of $12.02.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company posted $0.62 EPS. The company’s revenue was up 18.4% compared to the same quarter last year. On average, research analysts predict that Rithm Capital Corp. will post 1.82 EPS for the current year.

Rithm Capital Profile

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.