Walter Investment Management Corp. (WAC) Reaches New 1-Year Low at $2.45
Shares of Walter Investment Management Corp. (NYSE:WAC) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $2.45 and last traded at $2.45, with a volume of 85,546 shares trading hands. The stock had previously closed at $2.65.
Several brokerages have issued reports on WAC. Zacks Investment Research upgraded Walter Investment Management Corp. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 6th. Compass Point lowered their target price on Walter Investment Management Corp. from $6.00 to $2.50 and set a “sell” rating on the stock in a research note on Wednesday, May 4th. Finally, FBR & Co lowered their target price on Walter Investment Management Corp. from $7.00 to $3.00 and set an “underperform” rating on the stock in a research note on Wednesday, May 4th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.90.
The stock’s 50 day moving average is $2.97 and its 200 day moving average is $5.97. The firm’s market capitalization is $90.07 million.
Walter Investment Management Corp. (NYSE:WAC) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.50) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.78. The company had revenue of $66.77 million for the quarter, compared to analysts’ expectations of $305.95 million. During the same period last year, the business earned $1.02 EPS. The firm’s revenue for the quarter was down 78.5% on a year-over-year basis. Equities analysts expect that Walter Investment Management Corp. will post ($0.47) earnings per share for the current year.
In other Walter Investment Management Corp. news, 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 transaction, the chief operating officer now owns 26,339 shares in the company, valued at approximately $121,949.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
A hedge fund recently raised its stake 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, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 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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