Walter Investment Management Corp. (NYSE:WAC) shares fell 3.8% on Thursday . The company traded as low as $2.79 and last traded at $2.82, with a volume of 109,358 shares trading hands. The stock had previously closed at $2.93.

A number of research firms recently weighed in on WAC. Zacks Investment Research raised Walter Investment Management Corp. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 6th. Compass Point reduced their price objective on Walter Investment Management Corp. from $6.00 to $2.50 and set a “sell” rating for the company in a research report on Wednesday, May 4th. Finally, FBR & Co reduced their price objective on Walter Investment Management Corp. from $7.00 to $3.00 and set an “underperform” rating for the company in a research report on Wednesday, May 4th. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $6.90.

The company has a 50 day moving average price of $3.11 and a 200-day moving average price of $6.35. The firm’s market capitalization is $98.65 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 Thomson Reuters’ consensus estimate of $0.28 by $0.78. The business earned $66.77 million during the quarter, compared to analyst estimates of $305.95 million. During the same period in the previous year, the business earned $1.02 EPS. Walter Investment Management Corp.’s revenue for the quarter was down 78.5% on a year-over-year basis. On average, equities research analysts expect that Walter Investment Management Corp. will post ($0.47) earnings per share for the current year.

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

A hedge fund recently raised its stake 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 firm 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 about 0.88% of Walter Investment Management Corp. worth $4,749,000 at the end of the most recent reporting period.

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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