Walter Investment Management Corp. (WAC) Trading Down 6.6%
Walter Investment Management Corp. (NYSE:WAC) traded down 6.6% during mid-day trading on Wednesday . The company traded as low as $3.35 and last traded at $3.41, with a volume of 311,327 shares traded. The stock had previously closed at $3.65.
A number of equities research analysts recently issued reports on the company. Compass Point lowered their price objective 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. Zacks Investment Research raised Walter Investment Management Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. FBR & Co reduced 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. Barclays PLC reduced their target price on Walter Investment Management Corp. from $5.00 to $2.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 10th. Finally, Wunderlich raised Walter Investment Management Corp. from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Three 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’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $5.30.
The stock’s 50-day moving average price is $2.89 and its 200 day moving average price is $5.50. The company’s market cap is $122.89 million.
Walter Investment Management Corp. (NYSE:WAC) last announced its earnings results on Tuesday, August 9th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The company earned $187.50 million during the quarter, compared to analyst estimates of $284.14 million. The firm’s revenue for the quarter was down 54.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 EPS. Equities analysts anticipate that Walter Investment Management Corp. will post ($0.46) EPS for the current fiscal year.
An institutional investor recently raised its position in Walter Investment Management Corp. stock. Bank of Montreal Can raised its stake in Walter Investment Management Corp. (NYSE:WAC) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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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