Shares of Resolute Holdings Management, Inc. (NYSE:RHLD) reached a new 52-week high during mid-day trading on Wednesday, climbing to a peak of $192.14. The stock last traded at $191.4950, with a trading volume of 56,843 shares, a significant increase from its previous close of $180.06. This surge reflects growing interest in the company amid fluctuating market conditions.
Analyst Ratings and Company Performance
Despite the stock’s upward trajectory, Weiss Ratings issued a “sell (e+)” rating on October 8, 2023. One equities research analyst has currently rated the stock as a sell. According to MarketBeat, the consensus rating for Resolute Holdings Management remains firmly in the “Sell” category, which may influence investor sentiment moving forward.
The company recently disclosed its quarterly earnings on November 3, 2023, reporting earnings per share (EPS) of $0.13 and revenue of $120.87 million. Notably, Resolute Holdings Management exhibited a negative return on equity of 646.55% and a net margin of 23.82%, raising questions about its financial health and operational efficiency.
Insider Transactions and Ownership Changes
In a notable development, Timothy O. Mahoney, a director at Resolute Holdings Management, acquired 5,939 shares on November 7, 2023, at an average price of $168.52 per share, amounting to a total investment of $1,000,840.28. This acquisition increased his ownership stake in the company. The transaction was reported in a filing with the U.S. Securities and Exchange Commission (SEC).
Additionally, Kurt Schoen, the Chief Financial Officer, purchased 1,000 shares at an average price of $164.95 per share, totaling $164,950. Following this transaction, Schoen owns 1,000 shares, reflecting a similar increase in his ownership position. In total, insiders have acquired 11,107 shares valued at $1,800,036 over the past ninety days, indicating a strong belief in the company’s future prospects. Currently, insiders hold 50.80% of the company’s stock.
Resolute Holdings Management, based in New York, operates as an alternative asset management platform company, having been incorporated in 2024. The company’s performance, insider trading activity, and analyst ratings will likely shape its market trajectory in the coming months.
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