Shares of Resolute Holdings Management, Inc. (NYSE:RHLD) experienced a significant decline on Wednesday, falling by 8.1% to close at $186.62. During the trading session, the stock hit a low of $193.87 and saw just 6,730 shares change hands, a dramatic drop of 95% compared to the average volume of 136,069 shares. This downturn followed a previous closing price of $203.14.
In a recent research note, Weiss Ratings reiterated a “sell (e+)” rating for Resolute Holdings, further contributing to the negative sentiment among investors. According to data from MarketBeat, the overall consensus among analysts remains a “Sell” rating for the stock, reflecting caution amidst the recent price movement.
Insider Activity and Institutional Investments
Despite the stock’s decline, some insider activity has been noted. On November 18, 2023, Timothy O. Mahoney, a director of the company, purchased 3,268 shares at an average price of $152.98. This transaction amounted to nearly $500,000 and increased his total ownership to 9,207 shares, valued at approximately $1.4 million. This acquisition represents a 55.03% increase in Mahoney’s holdings.
Additionally, the company’s Chief Financial Officer, Kurt Schoen, acquired 900 shares on the same day, paying an average of $149.23 per share, for a total of $134,307. Following this transaction, Schoen holds 1,900 shares, valued at around $283,537, marking a 90.00% increase in his ownership.
Insider ownership currently stands at 50.80% of the total shares, indicating a significant level of investment from company executives.
Recent Institutional Activity
Several hedge funds have recently made moves in RHLD shares. Farther Finance Advisors LLC entered a new position during the fourth quarter, valued at approximately $27,000. Similarly, GAMMA Investing LLC acquired shares worth about $35,000, while Wolverine Asset Management LLC invested around $127,000 in new shares.
Moreover, Northwestern Mutual Wealth Management Co. significantly increased its stake by 2,885.2%, now owning 806 shares valued at $166,000. Finally, Creative Financial Designs Inc. ADV also made a new investment in Resolute Holdings, amounting to approximately $181,000.
Resolute Holdings Management operates as an alternative asset management platform, having been incorporated in 2024 and based in New York, New York. As the market continues to react to the recent decline, investors are left to consider the implications of both insider activity and analyst ratings on the company’s future prospects.
