Bank of America Corp DE Buys New Position in Resolute Holdings Management, Inc. $RHLD

Key Points

• Bank of America initiated a position in Resolute Holdings Management during the second quarter, purchasing 9,649 shares valued at approximately $1.4 million, or 0.12% of the company.
• Several other institutional investors also established new stakes, including J. Goldman & Co., which purchased shares worth approximately $34.7 million.
• RHLD recently traded at $118.18, down from its 50-day and 200-day moving averages. The company reported quarterly revenue of $473.2 million and EPS of $0.69, while analysts maintain a consensus “Hold” rating.

Bank of America Corp DE bought a new position in Resolute Holdings Management, Inc. (NYSE:RHLD - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,649 shares of the company's stock, valued at approximately $1,395,000. Bank of America Corp DE owned 0.12% of Resolute Holdings Management at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Freestone Grove Partners LP bought a new stake in shares of Resolute Holdings Management in the 2nd quarter worth $352,000. Jupiter Topco LLC bought a new stake in Resolute Holdings Management in the second quarter worth about $302,000. J. Goldman & Co LP bought a new stake in Resolute Holdings Management in the second quarter worth about $34,747,000. Legal & General Group Plc acquired a new stake in Resolute Holdings Management in the 2nd quarter valued at about $561,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Resolute Holdings Management in the 2nd quarter valued at about $291,000.

Resolute Holdings Management Trading Down 0.1%

Resolute Holdings Management stock opened at $118.18 on Friday. The company has a 50 day moving average price of $129.07 and a 200 day moving average price of $132.65. Resolute Holdings Management, Inc. has a 52 week low of $70.06 and a 52 week high of $236.19. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.82 and a current ratio of 1.35. The firm has a market capitalization of $924.17 million, a price-to-earnings ratio of 21.76 and a beta of -0.97.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on RHLD. Wall Street Zen upgraded shares of Resolute Holdings Management from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of Resolute Holdings Management from a "sell (e+)" rating to a "hold (c-)" rating in a research note on Tuesday, September 22nd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Resolute Holdings Management currently has a consensus rating of "Hold".

Insider Transactions at Resolute Holdings Management

In other Resolute Holdings Management news, CFO Kurt Schoen acquired 375 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was purchased at an average cost of $117.84 per share, for a total transaction of $44,190.00. Following the transaction, the chief financial officer owned 3,225 shares of the company's stock, valued at $380,034. The trade was a 13.16% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 52.80% of the company's stock.

Resolute Holdings Management 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.

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