Ancora Advisors LLC Sells 8,017 Shares of Resolute Holdings Management, Inc. $RHLD

Key Points

• Ancora Advisors cut its Resolute Holdings Management stake by 89.2% in the second quarter, selling 8,017 shares and retaining 970 shares valued at approximately $140,000.
• Institutional activity was mixed, with Corsair Capital increasing its holdings by 24.7% and Bank of America boosting its position by 157.3%; meanwhile, CFO Kurt Schoen purchased 375 shares, and insiders collectively own 52.8% of the stock.
• RHLD recently traded at $136.47, while analysts remain cautious: the stock has a consensus “Sell” rating despite reporting quarterly revenue of $473.2 million and EPS of $0.69.

Ancora Advisors LLC decreased its holdings in Resolute Holdings Management, Inc. (NYSE:RHLD - Free Report) by 89.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 970 shares of the company's stock after selling 8,017 shares during the quarter. Ancora Advisors LLC's holdings in Resolute Holdings Management were worth $140,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. UBS Group AG bought a new stake in shares of Resolute Holdings Management in the fourth quarter worth $28,228,000. Corsair Capital Management L.P. lifted its holdings in Resolute Holdings Management by 24.7% in the first quarter. Corsair Capital Management L.P. now owns 259,091 shares of the company's stock valued at $42,050,000 after acquiring an additional 51,317 shares during the period. Truist Financial Corp bought a new position in Resolute Holdings Management in the fourth quarter valued at about $6,140,000. Principal Financial Group Inc. purchased a new position in Resolute Holdings Management in the first quarter worth about $2,250,000. Finally, Bank of America Corp DE boosted its position in Resolute Holdings Management by 157.3% in the first quarter. Bank of America Corp DE now owns 19,725 shares of the company's stock worth $3,201,000 after purchasing an additional 12,060 shares during the last quarter.

Insiders Place Their Bets

In related news, CFO Kurt Schoen bought 375 shares of the stock in a transaction on Thursday, August 20th. The stock was bought at an average price of $117.84 per share, for a total transaction of $44,190.00. Following the completion of the acquisition, the chief financial officer directly owned 3,225 shares in the company, valued at approximately $380,034. This represents a 13.16% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 52.80% of the stock is currently owned by corporate insiders.

Resolute Holdings Management Trading Down 1.5%

RHLD opened at $136.47 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.35 and a debt-to-equity ratio of 0.71. The stock's fifty day moving average is $134.55 and its two-hundred day moving average is $139.15. The company has a market capitalization of $1.07 billion, a P/E ratio of 25.13 and a beta of -1.31. Resolute Holdings Management, Inc. has a 52 week low of $62.56 and a 52 week high of $236.19.

Resolute Holdings Management (NYSE:RHLD - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.69 earnings per share (EPS) for the quarter. The business had revenue of $473.20 million for the quarter. Resolute Holdings Management had a return on equity of 3.55% and a net margin of 4.21%.

Analyst Ratings Changes

RHLD has been the topic of several recent research reports. Wall Street Zen upgraded shares of Resolute Holdings Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings restated a "sell (e+)" rating on shares of Resolute Holdings Management in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Resolute Holdings Management has a consensus rating of "Sell".

About Resolute Holdings Management

Resolute Holdings Management, Inc operates as an alternative asset management platform company. The company was incorporated in 2024 and is based in New York, New York.

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