Walter Investment Management Corp. (WAC) Trading 6.9% Higher
Walter Investment Management Corp. (NYSE:WAC) traded up 6.9% during trading on Wednesday . The company traded as high as $2.70 and last traded at $2.64, with a volume of 147,899 shares. The stock had previously closed at $2.47.
A number of equities research analysts have recently commented on the company. 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. Wunderlich upgraded Walter Investment Management Corp. from a “hold” rating to a “buy” rating in a research note on Friday. 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 price objective 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 equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Walter Investment Management Corp. has an average rating of “Hold” and a consensus target price of $6.90.
The company’s market capitalization is $89.71 million. The firm’s 50-day moving average price is $2.93 and its 200-day moving average price is $5.94.
Walter Investment Management Corp. (NYSE:WAC) last released its 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 firm earned $66.77 million during the quarter, compared to analysts’ expectations of $305.95 million. The company’s revenue was down 78.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.02 earnings per share. On average, equities research analysts expect that Walter Investment Management Corp. will post ($0.47) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Walter Investment Management Corp. stock. California Public Employees Retirement System increased its position in Walter Investment Management Corp. (NYSE:WAC) by 10.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 334,000 shares of the company’s stock after buying an additional 32,600 shares during the period. California Public Employees Retirement System owned approximately 0.88% of Walter Investment Management Corp. worth $4,749,000 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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