The COB, CEO & Pres of New Residential Inv (NYSE: NRZ) is Buying Shares

By Carrie Williams

Today, the COB, CEO & Pres of New Residential Inv (NRZResearch Report), Michael Nierenberg, bought shares of NRZ for $1.01M.

This recent transaction increases Michael Nierenberg’s holding in the company by 9.13% to a total of $12.54 million.

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The company has a one-year high of $11.48 and a one-year low of $4.54. NRZ’s market cap is $4.35 billion and the company has a P/E ratio of -3.00. Currently, New Residential Inv has an average volume of 13.64M.

Nine different firms, including Argus Research and BTIG, currently also have a Buy rating on the stock. Based on 11 analyst ratings, the analyst consensus is Strong Buy with an average price target of $12.00, reflecting a -12.3% downside.

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New Residential Investment Corp. is a real estate investment trust, which focuses on investing and actively managing, investments related to residential real estate. It operates through the following segments: Origination, Servicing, MSR Related Investments, Residential Securities and Loans, Consumer Loans and Corporate. The Corporate segment includes general and administrative expenses, the management fees and incentive compensation, and corporate cash and related interest income. The company was founded in 2011 and is headquartered in New York, NY.