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

A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Walter Investment Management Corp. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 6th. Compass Point cut 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 note on Wednesday, May 4th. Finally, FBR & Co cut 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 note 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’s stock. The company has a consensus rating of “Hold” and a consensus target price of $6.90.

The firm has a 50-day moving average of $3.08 and a 200-day moving average of $6.26. The company’s market capitalization is $102.58 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 quarter in the previous year, the firm posted $1.02 EPS. The business 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% on a year-over-year basis. On average, equities analysts expect that Walter Investment Management Corp. will post ($0.47) earnings per share for the current fiscal year.

In other Walter Investment Management Corp. news, COO David C. Schneider bought 21,505 shares of the firm’s stock in a transaction on Friday, May 6th. The shares were 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 in the company, valued at approximately $121,949.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alvaro G. Demolina bought 25,000 shares of the firm’s stock in a transaction on Thursday, May 5th. The shares were acquired at an average price of $4.65 per share, for a total transaction of $116,250.00. Following the transaction, the director now owns 40,392 shares in the company, valued at $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 raised its position in Walter Investment Management Corp. (NYSE:WAC) by 10.8% during the fourth quarter, according to its most recent filing 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 at the end of the most recent quarter.

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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