Walter Investment Management Corp. (NYSE:WAC) shares gapped down prior to trading on Wednesday . The stock had previously closed at $3.48, but opened at $3.49. Walter Investment Management Corp. shares last traded at $3.58, with a volume of 244,413 shares.

WAC has been the topic of several analyst reports. Wunderlich raised Walter Investment Management Corp. from a “hold” rating to a “buy” rating in a report on Friday, August 5th. Zacks Investment Research raised Walter Investment Management Corp. from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 6th. Barclays PLC dropped their target price 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. FBR & Co dropped their target price 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, Compass Point dropped their target price 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. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.30.

The firm’s market cap is $136.62 million. The company’s 50 day moving average is $3.03 and its 200 day moving average is $5.10.

Walter Investment Management Corp. (NYSE:WAC) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The business had revenue of $187.50 million for the quarter, compared to analyst estimates of $284.14 million. The company’s revenue was down 54.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 earnings per share. On average, equities research analysts anticipate that Walter Investment Management Corp. will post ($0.46) EPS for the current year.

In other news, SVP Stuart Douglass Boyd sold 8,780 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $3.13, for a total value of $27,481.40. Following the completion of the sale, the senior vice president now directly owns 30,569 shares of the company’s stock, valued at approximately $95,680.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

An institutional investor recently raised its position in Walter Investment Management Corp. stock. Bank of Montreal Can boosted its stake in shares of Walter Investment Management Corp. (NYSE:WAC) by 0.5% during the fourth quarter, according to its most recent disclosure 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 about 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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