Walter Investment Management Corp. (WAC) Shares Down 6.7%
Walter Investment Management Corp. (NYSE:WAC)’s share price traded down 6.7% during trading on Thursday . The stock traded as low as $2.34 and last traded at $2.35, with a volume of 135,525 shares. The stock had previously closed at $2.52.
Several equities analysts have commented on the stock. Zacks Investment Research raised shares of Walter Investment Management Corp. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 6th. Compass Point dropped their target price on shares of Walter Investment Management Corp. from $6.00 to $2.50 and set a “sell” rating on the stock in a research report on Wednesday, May 4th. Finally, FBR & Co dropped their target price on shares of Walter Investment Management Corp. from $7.00 to $3.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 4th. Three 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 an average rating of “Hold” and an average price target of $6.90.
The firm’s 50-day moving average price is $2.97 and its 200-day moving average price is $5.97. The firm’s market capitalization is $81.13 million.
Walter Investment Management Corp. (NYSE:WAC) last announced 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. During the same quarter in the previous year, the business posted $1.02 EPS. The business had revenue of $66.77 million for the quarter, compared to analyst estimates of $305.95 million. The business’s revenue for the quarter was down 78.5% on a year-over-year basis. Equities research analysts predict 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 acquired 21,505 shares of the business’s stock in a transaction on Friday, May 6th. The shares were acquired 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 in the company, valued at $121,949.57. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.
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 13F filing with the SEC. The fund owned 77,247 shares of the company’s stock after buying an additional 347 shares during the period. Bank of Montreal Can owned approximately 0.20% of Walter Investment Management Corp. worth $1,099,000 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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