The Vanguard Group, Inc. recently announced the acquisition of new stake in Riot Platforms Inc (NASDAQ:RIOT). The institutional investor has increased its shareholding in the Financial company by 7.42% to 18.84 million shares with purchase of 1.3 million shares. This fresh investment now brings its stake to 9.12% valued currently at $291.47 million. In addition, BlackRock Fund Advisors raised its holdings by 0.47 million to 11.22 million shares. And SSgA Funds Management, Inc. has lifted its position by 2.98% or 0.15 million shares – to 5.11 million shares.
Currently, there are 206.51M common shares owned by the public and among those 185.27M shares have been available to trade.
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Insiders at the company have transacted a total of 32 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 8 of these insider trades were purchases, accounting for 1,537,701 shares. Insider sales of the common stock occurred on 24 occasions, with total insider shares sold totaling 3,240,878 shares.
The top 3 mutual fund holders in Riot Platforms Inc are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market ETF owns 6.21 million shares of the company’s stock, all valued at over $96.08 million. The company bought an additional 0.7 million shares recently to bring their total holdings to about 3.01% of the shares outstanding. iShares Russell 2000 ETF sold 13572.0 shares to see its total holdings shrink to 5.12 million shares valued at over $79.27 million and representing 2.48% of the shares outstanding. Vanguard Small Cap Index Fund bought 0.44 million shares to bring its total holdings to over 5.0 million shares at a value of $77.28 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.42% of the shares outstanding.
However, the script later moved the day high at 10.39, down -0.39%. The company’s stock has a 5-day price change of -21.39% and 16.40% over the past three months. RIOT shares are trading -33.48% year to date (YTD), with the 12-month market performance up to 80.21% higher. It has a 12-month low price of $5.16 and touched a high of $20.65 over the same period. RIOT has an average intraday trading volume of 30.52 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -31.96%, -24.68%, and -17.27% respectively.
Institutional ownership of Riot Platforms Inc (NASDAQ: RIOT) shares accounts for 39.24% of the company’s 206.51M shares outstanding. Mutual fund holders own 16.58%, while other institutional holders and individual stakeholders account for 26.66% and 13.22% respectively.
It has a market capitalization of $2.12B and a beta (3y monthly) value of 4.37. The earnings-per-share (ttm) stands at -$1.68. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.78% over the week and 10.01% over the month.
Analysts forecast that Riot Platforms Inc (RIOT) will achieve an EPS of -$0.27 for the current quarter, -$0.23 for the next quarter and -$0.6 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.35 while analysts give the company a high EPS estimate of -$0.1. Comparatively, EPS for the current quarter was -$0.9 a year ago. Earnings per share for the fiscal year are expected to increase by 71.47%, and 16.35% over the next financial year. EPS should grow at an annualized rate of 20.00% over the next five years, compared to -2.06% over the past 5-year period.
Looking at the support for the RIOT, a number of firms have released research notes about the stock. JP Morgan stated their Neutral rating for the stock in a research note on December 08, 2023, with the firm’s price target at $8-$12.
