Walter Investment Management Corp. (WAC) Reaches New 12-Month Low at $2.60
Walter Investment Management Corp. (NYSE:WAC)’s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $2.60 and last traded at $2.63, with a volume of 99,302 shares changing hands. The stock had previously closed at $2.89.
WAC has been the topic of several recent analyst reports. Compass Point increased their price objective on shares of Walter Investment Management Corp. from $6.00 to $10.00 and gave the company a “sell” rating in a report on Wednesday, March 9th. Zacks Investment Research raised shares of Walter Investment Management Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Finally, FBR & Co decreased their price objective on shares of 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 analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.90.
The firm has a 50-day moving average of $3.86 and a 200-day moving average of $7.55. The firm’s market cap is $95.79 million.
Walter Investment Management Corp. (NYSE:WAC) last posted its earnings results on Tuesday, May 3rd. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by $0.78. The business earned $66.77 million during the quarter, compared to the consensus estimate of $305.95 million. The business’s revenue was down 78.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.02 EPS. On average, analysts anticipate that Walter Investment Management Corp. will post ($0.45) EPS for the current year.
In related news, Director Alvaro G. Demolina bought 25,000 shares of the business’s stock in a transaction on Thursday, May 5th. The shares were bought at an average cost of $4.65 per share, for a total transaction of $116,250.00. Following the completion of the purchase, the director now owns 40,392 shares of the company’s stock, valued at approximately $187,822.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David C. Schneider bought 21,505 shares of the business’s stock in a transaction on Friday, May 6th. The stock was bought at an average price of $4.63 per share, for a total transaction of $99,568.15. Following the completion of the purchase, the chief operating officer now directly owns 26,339 shares of the company’s stock, valued at approximately $121,949.57. 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 increased its position in shares of Walter Investment Management Corp. (NYSE:WAC) by 0.5% during the fourth quarter, Holdings Channel reports. 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 0.20% of Walter Investment Management Corp. worth $1,099,000 at the end of the most recent reporting period.
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.