Walter Investment Management Corp. (WAC) Reaches New 1-Year Low at $2.45
Shares of Walter Investment Management Corp. (NYSE:WAC) hit a new 52-week low during trading on Tuesday . The company traded as low as $2.45 and last traded at $2.45, with a volume of 85,546 shares changing hands. The stock had previously closed at $2.65.
A number of brokerages have recently commented on WAC. Zacks Investment Research upgraded Walter Investment Management Corp. from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 6th. Compass Point cut their price target on Walter Investment Management Corp. from $6.00 to $2.50 and set a “sell” rating on the stock in a report on Wednesday, May 4th. Finally, FBR & Co cut their price target on Walter Investment Management Corp. from $7.00 to $3.00 and set an “underperform” rating on the stock in a report on Wednesday, May 4th. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Walter Investment Management Corp. currently has a consensus rating of “Hold” and an average target price of $6.90.
The company’s market cap is $88.64 million. The stock’s 50 day moving average price is $3.04 and its 200-day moving average price is $6.06.
Walter Investment Management Corp. (NYSE:WAC) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.50) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.78. The company earned $66.77 million during the quarter, compared to analyst estimates of $305.95 million. The firm’s revenue for the quarter was down 78.5% compared to the same quarter last year. During the same period last year, the firm earned $1.02 EPS. On average, analysts expect that Walter Investment Management Corp. will post ($0.47) EPS for the current year.
In other Walter Investment Management Corp. news, COO David C. Schneider purchased 21,505 shares of the firm’s stock in a transaction on Friday, May 6th. The stock was purchased at an average cost of $4.63 per share, for a total transaction of $99,568.15. Following the acquisition, the chief operating officer now owns 26,339 shares in the company, valued at approximately $121,949.57. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alvaro G. Demolina purchased 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, with a total value of $116,250.00. Following the completion of the acquisition, the director now owns 40,392 shares in the company, valued at approximately $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. Bank of Montreal Can raised its position in Walter Investment Management Corp. (NYSE:WAC) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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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