Walter Investment Management Corp. (WAC) Trading Up 5.3%
Walter Investment Management Corp. (NYSE:WAC) was up 5.3% on Wednesday . The stock traded as high as $3.02 and last traded at $3.00, with a volume of 53,443 shares changing hands. The stock had previously closed at $2.85.
Several research firms have recently commented on WAC. FBR & Co decreased their target price on shares of 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. Zacks Investment Research raised shares of Walter Investment Management Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Finally, Compass Point decreased their target price on shares of 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. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $6.90.
The firm has a 50-day moving average of $3.11 and a 200-day moving average of $6.35. The stock’s market cap is $96.86 million.
Walter Investment Management Corp. (NYSE:WAC) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.50) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.78. The business had revenue of $66.77 million for the quarter, compared to analyst estimates of $305.95 million. During the same period in the prior year, the firm earned $1.02 earnings per share. The firm’s revenue for the quarter was down 78.5% compared to the same quarter last year. On average, equities analysts predict that Walter Investment Management Corp. will post ($0.47) EPS for the current year.
In related news, Director Alvaro G. Demolina bought 25,000 shares of the company’s stock in a transaction dated Thursday, May 5th. The stock was purchased at an average cost of $4.65 per share, with a total value of $116,250.00. Following the transaction, the director now owns 40,392 shares in the company, valued at approximately $187,822.80. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO David C. Schneider bought 21,505 shares of the company’s stock in a transaction dated Friday, May 6th. The stock was bought at an average cost of $4.63 per share, with a total value of $99,568.15. Following the completion of the transaction, the chief operating officer now owns 26,339 shares in the company, valued at approximately $121,949.57. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in Walter Investment Management Corp. stock. Bank of Montreal Can increased its stake in Walter Investment Management Corp. (NYSE:WAC) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 77,247 shares of the company’s stock after buying an additional 347 shares during the period. Bank of Montreal Can owned 0.20% of Walter Investment Management Corp. worth $1,099,000 as of its most recent filing with the SEC.
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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