Redwood Trust (NYSE:RWT).
RBO & CO LLC reports that it decreased its stake in Redwood Trust stock by 0.5% in a 13F filing with the SEC. Its stake was worth $10,281,000 a decrease of $531,000 as of the end of the quarter.
Several firms have shifted positions in (RWT). As of quarter end Weitz Investment Management, Inc. had sold 145,300 shares trimming its position 3.4%. The value of the investment in (RWT) went from $72,923,000 to $67,346,000 decreasing 7.6% for the reporting period. Raymond James & Associates added to its position by buying 252 shares an increase of 1.4% in the quarter. Raymond James & Associates controls 18,533 shares worth $302,000. The value of the position overall is down by 3.2%.
As of the end of the quarter Great Lakes Advisors, LLC had disposed of a total of 3,400 shares trimming its holdings by 7.2%. The value of the company’s investment in Redwood Trust decreased from $808,000 to $717,000 a change of $91,000 quarter to quarter.
Deutsche Bank AG lowered the price target of the stock on November 8 changing the forecast from $18.50 to $17.00 and stated a “Buy” rating.
The company is trading down since yesterday’s close of 14.56. Redwood Trust’s P/E ratio is 10.45 and market cap is 1.11B. As of the last earnings report the EPS was $1.38 with 77.12M shares outstanding.
Traders are a little more bearish on shares of the company recently if you look at the uptick in short interest. The stock realized a rise in short interest between September 29, 2017 and October 13, 2017 of 1.48%. Short shares grew from 3,121,646 to 3,167,945 over that timeframe. Days to cover decreased from 11.0 to 11.0 and the percentage of shorted shares was 0.04% on October 13.