Bank of America Corp DE Boosts Stock Position in Resolute Holdings Management, Inc. $RHLD

Key Points

• Bank of America increased its RHLD stake by 157.3% in the first quarter, owning 19,725 shares valued at approximately $3.2 million. Several other institutional investors, including Corsair Capital, Vanguard and UBS, also established or expanded positions.
• Resolute Holdings Management reported quarterly revenue of $473.2 million and earnings per share of $0.69, while the stock opened at $135.53 and remains well below its 52-week high of $236.19.
• Despite insider buying and 52.8% insider ownership, analyst sentiment remains negative: the stock has an average “Sell” rating, with one analyst rating it Sell and another recently upgrading it to Hold.

Bank of America Corp DE boosted its position in Resolute Holdings Management, Inc. (NYSE:RHLD - Free Report) by 157.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,725 shares of the company's stock after purchasing an additional 12,060 shares during the quarter. Bank of America Corp DE owned approximately 0.24% of Resolute Holdings Management worth $3,201,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Locust Wood Capital Advisers LLC purchased a new stake in Resolute Holdings Management during the fourth quarter valued at approximately $112,292,000. Corsair Capital Management L.P. grew its position in Resolute Holdings Management by 24.7% during the 1st quarter. Corsair Capital Management L.P. now owns 259,091 shares of the company's stock worth $42,050,000 after purchasing an additional 51,317 shares during the last quarter. Balance Capital Partners L.P. purchased a new stake in Resolute Holdings Management during the 4th quarter valued at about $52,169,000. Vanguard Group Inc. purchased a new position in Resolute Holdings Management during the 4th quarter worth approximately $47,149,000. Finally, UBS Group AG acquired a new stake in Resolute Holdings Management during the 4th quarter valued at approximately $28,228,000.

Resolute Holdings Management Price Performance

RHLD stock opened at $135.53 on Monday. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 24.96 and a beta of -1.29. The company has a quick ratio of 0.82, a current ratio of 1.35 and a debt-to-equity ratio of 0.71. Resolute Holdings Management, Inc. has a 52-week low of $62.56 and a 52-week high of $236.19. The business has a fifty day moving average of $133.63 and a two-hundred day moving average of $140.82.

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

Insiders Place Their Bets

In other news, CFO Kurt Schoen acquired 375 shares of the business's 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 transaction, the chief financial officer owned 3,225 shares in the company, valued at $380,034. This represents a 13.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 52.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RHLD. Weiss Ratings reiterated a "sell (e+)" rating on shares of Resolute Holdings Management in a research note on Tuesday, July 21st. Wall Street Zen raised shares of Resolute Holdings Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of "Sell".

Resolute Holdings Management Company Profile

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.

Want to see what other hedge funds are holding RHLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Resolute Holdings Management, Inc. (NYSE:RHLD - Free Report).

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