New Residential Investment (NYSE:NRZ) has tumbled 2.83% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 0.3% in the last four weeks. The stocks are negative as compared to the S&P 500 for the past week with a loss of 1.67%. New Residential Investment (NYSE:NRZ) has underperformed the index by 0.62% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
New Residential Investment (NYSE:NRZ): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $13.34 and $13.30 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $13.53. The buying momentum continued till the end and the stock did not give up its gains. It closed at $13.37, notching a gain of 0.45% for the day. The total traded volume was 3,323,067 . The stock had closed at $13.31 on the previous day.
The company shares have dropped -17.06% from its 1 Year high price. On Jun 22, 2015, the shares registered one year high at $16.24 and the one year low was seen on Jan 14, 2016. The 50-Day Moving Average price is $13.28 and the 200 Day Moving Average price is recorded at $11.91.
On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the CEO of New Residential Investment Corp., Nierenberg Michael had purchased shares worth of $146,055 in a transaction dated on June 15, 2015. A total of 9,100 shares were purchased at a price of $16.05 per share. The information is based on open market trades at the market prices.Option exercises are not covered.
Many analysts have stated their opinion on the company shares. Compass Point downgrades its rating on New Residential Investment (NYSE:NRZ). Analysts at the Compass Point have a current rating of Neutral on the shares. The shares were previously rated Buy. The rating by the firm was issued on May 18, 2016. Currently the company Insiders own 4% of New Residential Investment shares according to the proxy statements. Institutional Investors own 63.01% of New Residential Investment shares.
New Residential Investment Corp. (New Residential) is a publicly traded real estate investment trust. The Company is focused on investing and managing residential real estate investments. Its portfolio consists of servicing related assets, residential securities and loans and other investments. Its business segments include: Excess Mortgage Servicing Rights (Excess MSRs), Servicer Advances, Real Estate Securities, Real Estate Loans, Consumer Loans and Corporate. It has acquired Excess MSRs on residential mortgage loans with an aggregate unpaid principal balance (UPB) as of December 31, 2014 of approximately $248.7 billion. It acquires and manages a portfolio of credit sensitive real estate securities, including Non-Agency and Agency residential mortgage backed securities (RMBS). It has acquired residential mortgage loans, including performing, non-performing, re-performing and reverse mortgage loans.