Hsbc Holdings PLC Acquires New Shares in Resolute Forest Products Inc. (NYSE:RFP)

Hsbc Holdings PLC acquired a new stake in shares of Resolute Forest Products Inc. (NYSE:RFP – Get Rating) (TSE:RFP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 61,483 shares of the basic materials company’s stock, valued at approximately $1,230,000. Hsbc Holdings PLC owned approximately 0.08% of Resolute Forest Products as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Occudo Quantitative Strategies LP boosted its holdings in shares of Resolute Forest Products by 19.2% during the 2nd quarter. Occudo Quantitative Strategies LP now owns 65,985 shares of the basic materials company’s stock valued at $842,000 after acquiring an additional 10,641 shares in the last quarter. Quantbot Technologies LP boosted its holdings in shares of Resolute Forest Products by 187.1% during the 2nd quarter. Quantbot Technologies LP now owns 79,611 shares of the basic materials company’s stock valued at $1,015,000 after acquiring an additional 51,882 shares in the last quarter. Gabelli Funds LLC acquired a new stake in shares of Resolute Forest Products during the 3rd quarter valued at $5,133,000. Advisory Services Network LLC acquired a new position in Resolute Forest Products during the 2nd quarter worth about $180,000. Finally, Chicago Capital Management LLC acquired a new position in Resolute Forest Products during the 3rd quarter worth about $99,000. Institutional investors and hedge funds own 89.00% of the company’s stock.

Insider Transactions at Resolute Forest Products

In other news, SVP Richard Joseph Tremblay sold 10,930 shares of Resolute Forest Products stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $21.16, for a total value of $231,278.80. Following the completion of the transaction, the senior vice president now directly owns 187,140 shares of the company’s stock, valued at approximately $3,959,882.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Richard Joseph Tremblay sold 10,930 shares of Resolute Forest Products stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $21.16, for a total value of $231,278.80. Following the completion of the transaction, the senior vice president now directly owns 187,140 shares of the company’s stock, valued at approximately $3,959,882.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Patrice Minguez sold 47,594 shares of Resolute Forest Products stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $21.02, for a total value of $1,000,425.88. Following the completion of the transaction, the insider now directly owns 123,114 shares of the company’s stock, valued at $2,587,856.28. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RFP shares. Scotiabank downgraded Resolute Forest Products from a “sector perform” rating to a “sector underperform” rating and lifted their target price for the stock from $22.40 to $22.80 in a report on Monday. StockNews.com raised Resolute Forest Products from a “buy” rating to a “strong-buy” rating in a report on Monday, November 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.93.

Resolute Forest Products Stock Down 0.4 %

Shares of RFP opened at $21.92 on Thursday. The stock’s 50-day moving average price is $21.54 and its two-hundred day moving average price is $20.98. Resolute Forest Products Inc. has a 12 month low of $11.55 and a 12 month high of $22.62. The company has a current ratio of 2.91, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1.68 billion, a PE ratio of 4.03 and a beta of 2.49.

Resolute Forest Products Profile

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Resolute Forest Products, Inc engages in the production and sale of forest products. It operates through the following segments: Market Pulp, Tissue, Wood Products, Papers, and Corporate and Other. The company was founded on January 25, 2007 and is headquartered in Montreal, Canada.