MGO One Seven LLC Purchases 82,332 Shares of Rithm Capital Corp. (NYSE:RITM)

Key Points

• MGO One Seven LLC increased its stake in Rithm Capital Corp. by 10.9% during the first quarter, holding 840,607 shares valued at approximately $9.6 million.
• Rithm Capital reported $1.22 billion in revenue for the quarter, exceeding expectations, and recorded an earnings per share (EPS) of $0.54, surpassing estimates of $0.51.
• The company announced a quarterly dividend of $0.25, resulting in an 8.20% yield, with the payout ratio set at 76.92%.

MGO One Seven LLC boosted its holdings in Rithm Capital Corp. (NYSE:RITM - Free Report) by 10.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 840,607 shares of the real estate investment trust's stock after acquiring an additional 82,332 shares during the quarter. MGO One Seven LLC owned 0.16% of Rithm Capital worth $9,625,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Rithm Capital in the fourth quarter valued at approximately $76,082,000. Balyasny Asset Management L.P. lifted its holdings in Rithm Capital by 48.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 6,535,525 shares of the real estate investment trust's stock valued at $70,780,000 after buying an additional 2,136,342 shares during the period. Mackenzie Financial Corp lifted its holdings in Rithm Capital by 288.6% in the first quarter. Mackenzie Financial Corp now owns 2,725,392 shares of the real estate investment trust's stock valued at $31,206,000 after buying an additional 2,024,090 shares during the period. First Trust Advisors LP raised its holdings in Rithm Capital by 78.3% in the fourth quarter. First Trust Advisors LP now owns 3,304,999 shares of the real estate investment trust's stock worth $35,793,000 after purchasing an additional 1,451,829 shares during the period. Finally, Nomura Holdings Inc. acquired a new stake in Rithm Capital in the fourth quarter worth $13,913,000. Institutional investors own 44.92% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RITM shares. UBS Group reaffirmed a "buy" rating and issued a $14.00 target price (up previously from $13.00) on shares of Rithm Capital in a research report on Tuesday, July 15th. Piper Sandler raised shares of Rithm Capital from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $12.50 to $14.00 in a report on Monday, April 28th. Keefe, Bruyette & Woods lifted their price target on shares of Rithm Capital from $13.50 to $14.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Royal Bank Of Canada lifted their price target on shares of Rithm Capital from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Friday. Finally, BTIG Research reaffirmed a "buy" rating and set a $16.00 price target on shares of Rithm Capital in a report on Friday, April 25th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $14.00.

Rithm Capital Stock Performance

RITM traded up $0.14 on Monday, hitting $12.19. The company's stock had a trading volume of 1,392,103 shares, compared to its average volume of 4,460,959. The company's 50 day simple moving average is $11.57 and its 200-day simple moving average is $11.39. The firm has a market cap of $6.46 billion, a P/E ratio of 9.37 and a beta of 1.25. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 1.68. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.59.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Rithm Capital had a net margin of 16.72% and a return on equity of 19.07%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. Analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a yield of 8.2%. Rithm Capital's payout ratio is 76.92%.

About Rithm Capital

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.