Walter Investment Management Corp. (WAC) Shares Up 5.3%
Shares of Walter Investment Management Corp. (NYSE:WAC) shot up 5.3% during trading on Wednesday . The stock traded as high as $3.02 and last traded at $3.00, with a volume of 53,443 shares. The stock had previously closed at $2.85.
A number of research firms have issued reports on WAC. Zacks Investment Research raised shares of 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 objective on shares of Walter Investment Management Corp. from $6.00 to $2.50 and set a “sell” rating for the company in a report on Wednesday, May 4th. Finally, FBR & Co cut their price objective on shares of Walter Investment Management Corp. from $7.00 to $3.00 and set an “underperform” rating for the company in a report on Wednesday, May 4th. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $6.90.
The stock’s market capitalization is $104.72 million. The firm has a 50 day moving average price of $3.20 and a 200 day moving average price of $6.40.
Walter Investment Management Corp. (NYSE:WAC) last posted its quarterly earnings data 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 company had revenue of $66.77 million for the quarter, compared to analyst estimates of $305.95 million. The business’s revenue was down 78.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 EPS. On average, analysts forecast that Walter Investment Management Corp. will post ($0.47) earnings per share for the current year.
In related news, COO David C. Schneider acquired 21,505 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The stock was 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 of the company’s stock, valued at approximately $121,949.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alvaro G. Demolina acquired 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The shares were bought at an average price of $4.65 per share, with a total value of $116,250.00. Following the acquisition, the director now directly owns 40,392 shares of the company’s stock, 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 increased 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 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.
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