Shares of Walter Investment Management Corp. (NYSE:WAC) dropped 6.6% on Wednesday . The stock traded as low as $3.35 and last traded at $3.41, with a volume of 311,327 shares. The stock had previously closed at $3.65.

WAC has been the topic of several research reports. Wunderlich upgraded Walter Investment Management Corp. from a “hold” rating to a “buy” rating in a report on Friday, August 5th. Zacks Investment Research upgraded Walter Investment Management Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Compass Point reduced 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. FBR & Co reduced 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. Finally, Barclays PLC reduced their price target on Walter Investment Management Corp. from $5.00 to $2.00 and set an “underweight” rating on the stock in a report on Wednesday, August 10th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $5.30.

The company’s market cap is $122.52 million. The company’s 50 day moving average is $2.92 and its 200 day moving average is $5.47.

Walter Investment Management Corp. (NYSE:WAC) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.04. The business earned $187.50 million during the quarter, compared to analysts’ expectations of $284.14 million. The business’s revenue was down 54.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 EPS. On average, equities analysts predict that Walter Investment Management Corp. will post ($0.46) EPS for the current fiscal year.

A hedge fund recently raised its stake in Walter Investment Management Corp. stock. Bank of Montreal Can raised its stake in shares of Walter Investment Management Corp. (NYSE:WAC) by 0.5% during the fourth quarter, according to its most recent 13F filing with the SEC. 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 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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