Short Interest in Resolute Forest Products Inc (RFP) Drops By 37.0%

Resolute Forest Products Inc (NYSE:RFP) (TSE:RFP) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 367,552 shares, a decline of 37.0% from the November 30th total of 583,063 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 345,575 shares, the short-interest ratio is presently 1.1 days.

In related news, insider Jacques P. Vachon sold 15,300 shares of Resolute Forest Products stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $8.52, for a total transaction of $130,356.00. Following the completion of the sale, the insider now owns 108,260 shares of the company’s stock, valued at approximately $922,375.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Yves Laflamme sold 20,800 shares of Resolute Forest Products stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $8.19, for a total transaction of $170,352.00. Following the sale, the senior vice president now directly owns 114,542 shares of the company’s stock, valued at approximately $938,098.98. The disclosure for this sale can be found here. Insiders have sold a total of 42,455 shares of company stock valued at $356,632 in the last ninety days. 1.10% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. acquired a new position in shares of Resolute Forest Products in the 3rd quarter valued at approximately $102,000. Brandes Investment Partners LP acquired a new position in shares of Resolute Forest Products in the 3rd quarter valued at approximately $144,000. Macquarie Group Ltd. acquired a new position in shares of Resolute Forest Products in the 3rd quarter valued at approximately $157,000. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Resolute Forest Products by 1.8% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 38,787 shares of the basic materials company’s stock valued at $171,000 after buying an additional 700 shares in the last quarter. Finally, Citadel Advisors LLC raised its position in shares of Resolute Forest Products by 40.0% in the 3rd quarter. Citadel Advisors LLC now owns 34,598 shares of the basic materials company’s stock valued at $175,000 after buying an additional 9,889 shares in the last quarter. Institutional investors own 86.81% of the company’s stock.

Shares of Resolute Forest Products (NYSE:RFP) opened at $11.25 on Friday. The company has a quick ratio of 1.20, a current ratio of 2.44 and a debt-to-equity ratio of 0.51. The stock has a market cap of $1,019.21, a PE ratio of -7.12 and a beta of 1.48. Resolute Forest Products has a twelve month low of $4.10 and a twelve month high of $11.55.

Resolute Forest Products (NYSE:RFP) (TSE:RFP) last posted its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.16. The firm had revenue of $885.00 million during the quarter. Resolute Forest Products had a negative net margin of 4.05% and a negative return on equity of 0.30%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS.

RFP has been the subject of a number of recent research reports. Royal Bank of Canada reissued a “hold” rating and issued a $5.00 price objective on shares of Resolute Forest Products in a report on Tuesday, October 10th. TheStreet raised shares of Resolute Forest Products from a “d+” rating to a “c-” rating in a report on Wednesday, November 29th. Scotiabank boosted their price objective on shares of Resolute Forest Products from $5.25 to $7.75 and gave the company an “underperform” rating in a report on Friday, November 3rd. CIBC raised shares of Resolute Forest Products from a “sector perform” rating to a “sector outperform” rating in a report on Friday, November 3rd. Finally, TD Securities raised shares of Resolute Forest Products from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $5.00 to $8.00 in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Resolute Forest Products currently has a consensus rating of “Hold” and a consensus target price of $7.58.

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About Resolute Forest Products

Resolute Forest Products Inc operates in the forest products industry. It offers a range of forest products, including market pulp, tissue, wood products, newsprint and specialty papers. As of December 31, 2016, it owned or operated over 40 pulp, paper, tissue and wood products facilities in the United States and Canada.

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