Walter Investment Management Corp. (NYSE:WAC)’s share price dropped 3.6% during mid-day trading on Thursday . The company traded as low as $2.94 and last traded at $2.95, with a volume of 72,133 shares. The stock had previously closed at $3.06.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Walter Investment Management Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 3rd. FBR & Co lowered their price target on shares of Walter Investment Management Corp. from $7.00 to $3.00 and set an “underperform” rating for the company in a report on Wednesday, May 4th. Finally, Compass Point lowered their price target on shares of Walter Investment Management Corp. from $6.00 to $2.50 and set a “sell” rating for the company in a report on Wednesday, May 4th. Three analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Walter Investment Management Corp. has an average rating of “Hold” and an average target price of $6.90.

The stock’s 50 day moving average price is $3.31 and its 200-day moving average price is $6.70. The company’s market capitalization is $104.36 million.

Walter Investment Management Corp. (NYSE:WAC) last announced its earnings results on Tuesday, May 3rd. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.78. During the same period in the previous year, the company earned $1.02 EPS. The company had revenue of $66.77 million for the quarter, compared to analysts’ expectations of $305.95 million. The firm’s quarterly revenue was down 78.5% compared to the same quarter last year. Analysts anticipate that Walter Investment Management Corp. will post ($0.43) EPS for the current year.

In related news, COO David C. Schneider bought 21,505 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The stock was purchased at an average price of $4.63 per share, for a total transaction of $99,568.15. Following the transaction, the chief operating officer now directly owns 26,339 shares of the company’s stock, valued at approximately $121,949.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alvaro G. Demolina bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The stock was bought at an average price of $4.65 per share, with a total value of $116,250.00. Following the transaction, the director now directly owns 40,392 shares in the company, valued at $187,822.80. The disclosure for this purchase can be found here.

An institutional investor recently raised its position in Walter Investment Management Corp. stock. California Public Employees Retirement System boosted its position in shares of Walter Investment Management Corp. (NYSE:WAC) by 10.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 334,000 shares of the company’s stock after buying an additional 32,600 shares during the period. California Public Employees Retirement System owned approximately 0.88% of Walter Investment Management Corp. worth $4,749,000 as of its most recent SEC filing.

Walter Investment Management Corp. is a diversified mortgage banking firm focused primarily on the servicing and origination of residential loans, including reverse loans. The Company operates through three segments: Servicing, Originations and Reverse Mortgage. The Servicing segment consists of operations that perform servicing for third-party credit owners of mortgage loans, as well as its own mortgage loan portfolio.

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