Truist Financial Corp Buys Shares of 29,743 Resolute Holdings Management, Inc. $RHLD

Key Points

• Truist Financial disclosed a new fourth-quarter stake in Resolute Holdings Management, buying 29,743 shares valued at about $6.14 million, or roughly 0.35% of the company.
• Several other major institutions also initiated positions in the stock, including Vanguard Group and UBS Group, signaling notable institutional interest.
• Analyst sentiment remains weak: Weiss Ratings downgraded the stock, and MarketBeat data shows an overall Sell rating.

Truist Financial Corp bought a new stake in shares of Resolute Holdings Management, Inc. (NYSE:RHLD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 29,743 shares of the company's stock, valued at approximately $6,140,000. Truist Financial Corp owned approximately 0.35% of Resolute Holdings Management as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. bought a new position in Resolute Holdings Management in the fourth quarter worth approximately $47,149,000. UBS Group AG bought a new position in Resolute Holdings Management in the fourth quarter worth approximately $28,228,000. Leo Wealth LLC bought a new position in Resolute Holdings Management in the fourth quarter worth approximately $2,238,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Resolute Holdings Management in the fourth quarter worth approximately $1,448,000. Finally, Huntleigh Advisors Inc. bought a new position in Resolute Holdings Management in the fourth quarter worth approximately $801,000.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Resolute Holdings Management from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Sell".

Resolute Holdings Management Stock Performance

Shares of NYSE:RHLD opened at $110.63 on Friday. The company has a market capitalization of $913.77 million, a price-to-earnings ratio of 16.06 and a beta of -1.21. Resolute Holdings Management, Inc. has a 52 week low of $27.34 and a 52 week high of $236.19. The company has a quick ratio of 3.27, a current ratio of 3.84 and a debt-to-equity ratio of 2.18. The firm has a 50 day moving average of $152.52 and a 200 day moving average of $170.55.

Insider Buying and Selling

In related news, Director Jane J. Thompson sold 1,850 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $124.42, for a total value of $230,177.00. Following the completion of the transaction, the director owned 6,273 shares of the company's stock, valued at $780,486.66. The trade was a 22.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John D. Cote acquired 552 shares of Resolute Holdings Management stock in a transaction that occurred on Tuesday, March 17th. The stock was acquired at an average cost of $142.29 per share, with a total value of $78,544.08. Following the purchase, the director directly owned 552 shares of the company's stock, valued at $78,544.08. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 52.80% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.