Walter Investment Management Corp. (WAC) Sees Unusually-High Trading Volume
Walter Investment Management Corp. (NYSE:WAC) shares saw strong trading volume on Friday . 323,975 shares were traded during trading, an increase of 51% from the previous session’s volume of 214,155 shares.The stock last traded at $2.41 and had previously closed at $2.27.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised Walter Investment Management Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. FBR & Co decreased 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 report on Wednesday, May 4th. Compass Point decreased 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 report on Wednesday, May 4th. Finally, Wunderlich raised Walter Investment Management Corp. from a “hold” rating to a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $6.90.
The company’s market cap is $84.35 million. The firm’s 50 day moving average price is $2.90 and its 200-day moving average price is $5.92.
Walter Investment Management Corp. (NYSE:WAC) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of $0.28 by $0.78. The business had revenue of $66.77 million for the quarter, compared to analyst estimates of $305.95 million. The company’s revenue for the quarter was down 78.5% on a year-over-year basis. During the same period last year, the firm earned $1.02 EPS. On average, analysts predict that Walter Investment Management Corp. will post ($0.47) EPS for the current fiscal year.
An institutional investor recently raised its position in Walter Investment Management Corp. stock. Bank of Montreal Can increased its stake in Walter Investment Management Corp. (NYSE:WAC) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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.