It Seems Altisource Residential Corporation (RESI) Will Go Down. Formed A Few Months Bearish Double Bottom Pattern

December 20, 2017 - By Louis Casey

Investors sentiment decreased to 0.87 in 2017 Q2. Its down 0.15, from 1.02 in 2017Q1. It dropped, as 10 investors sold Altisource Residential Corporation shares while 37 reduced holdings. 15 funds opened positions while 26 raised stakes. 38.97 million shares or 1.56% more from 38.37 million shares in 2017Q1 were reported.
Voya Mngmt Ltd Liability Corp has 28,170 shares. Tower Research Ltd Liability Com (Trc) invested in 0% or 1,000 shares. Moreover, Schwab Charles Invest Incorporated has 0.01% invested in Altisource Residential Corporation (NYSE:RESI). Hanseatic Services owns 68 shares. Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 0% or 2,320 shares. State Street Corp accumulated 1.04M shares. Moreover, Brown Brothers Harriman & Com has 0% invested in Altisource Residential Corporation (NYSE:RESI) for 1,591 shares. 37,074 are owned by Savings Bank Of Montreal Can. Driehaus Mgmt Limited Liability Co reported 351,669 shares. 53,668 are held by Jane Street Group Inc Ltd Liability Corp. The New York-based Van Eck Associates has invested 0% in Altisource Residential Corporation (NYSE:RESI). Goldman Sachs Gru invested in 0% or 370,433 shares. California State Teachers Retirement System invested in 87,940 shares. Gam Ag reported 125,883 shares stake. Sg Americas Secs Ltd Co has invested 0% in Altisource Residential Corporation (NYSE:RESI).

The chart of Altisource Residential Corporation (RESI) shows a double bottom with $10.93 target or 5.00 % below today’s $11.51 share price. The 7 months chart pattern indicates high risk for the $615.19 million company. It was reported on Dec, 20 by Finviz.com. If the $10.93 price target is reached, the company will be worth $30.76 million less. Double bottoms are rare but powerful chart patterns.

The stock decreased 0.78% or $0.09 during the last trading session, reaching $11.51. About 850,743 shares traded or 244.65% up from the average. Altisource Residential Corporation (NYSE:RESI) has risen 47.78% since December 20, 2016 and is uptrending. It has outperformed by 31.08% the S&P500.

Analysts await Altisource Residential Corporation (NYSE:RESI) to report earnings on March, 7. They expect $-0.65 earnings per share, down 75.68 % or $0.28 from last year’s $-0.37 per share. After $-0.80 actual earnings per share reported by Altisource Residential Corporation for the previous quarter, Wall Street now forecasts -18.75 % EPS growth.

Altisource Residential Corporation (NYSE:RESI) Ratings Coverage

Among 10 analysts covering Altisource Residential Corporation (NYSE:RESI), 5 have Buy rating, 0 Sell and 5 Hold. Therefore 50% are positive. Altisource Residential Corporation has $115 highest and $11 lowest target. $27.89’s average target is 142.31% above currents $11.51 stock price. Altisource Residential Corporation had 16 analyst reports since August 11, 2015 according to SRatingsIntel. Keefe Bruyette & Woods maintained Altisource Residential Corporation (NYSE:RESI) on Thursday, June 29 with “Hold” rating. Deutsche Bank maintained Altisource Residential Corporation (NYSE:RESI) rating on Thursday, August 13. Deutsche Bank has “Buy” rating and $22.5 target. Nomura upgraded the stock to “Buy” rating in Tuesday, August 23 report. The company was maintained on Friday, June 30 by Northland Capital. As per Tuesday, August 8, the company rating was maintained by Keefe Bruyette & Woods. Citigroup maintained the shares of RESI in report on Wednesday, August 17 with “Neutral” rating. The stock has “Buy” rating by Northland Capital on Tuesday, August 8. Northland Capital maintained the shares of RESI in report on Monday, October 23 with “Buy” rating. The stock has “Buy” rating by Jefferies on Friday, September 15. The firm has “Market Perform” rating by JMP Securities given on Wednesday, March 9.

More notable recent Altisource Residential Corporation (NYSE:RESI) news were published by: Globenewswire.com which released: “Altisource Residential Corporation Announces Acquisition of 1957 Rental Homes …” on November 29, 2017, also Globenewswire.com with their article: “Altisource Residential Corporation Announces Agreement to Acquire up to 3500 …” published on March 31, 2017, Seekingalpha.com published: “Altisource Residential’s (RESI) CEO George Ellison on Q3 2017 Results …” on November 07, 2017. More interesting news about Altisource Residential Corporation (NYSE:RESI) were released by: Globenewswire.com and their article: “Altisource Residential Corporation Announces Acquisition of 751 Stabilized …” published on June 29, 2017 as well as Globenewswire.com‘s news article titled: “Altisource Residential Corporation Provides Update on Impact of Hurricane Harvey” with publication date: September 01, 2017.

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