Walter Investment Management Corp. (WAC) Trading 4.5% Higher
Shares of Walter Investment Management Corp. (NYSE:WAC) traded up 4.5% during trading on Tuesday . The stock traded as high as $3.27 and last traded at $3.24, with a volume of 115,041 shares. The stock had previously closed at $3.10.
Several analysts recently commented on the company. Zacks Investment Research raised Walter Investment Management Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Compass Point cut their price objective on 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. FBR & Co cut their price objective on 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. Wunderlich raised Walter Investment Management Corp. from a “hold” rating to a “buy” rating in a report on Friday, August 5th. Finally, Barclays PLC cut their price objective on Walter Investment Management Corp. from $5.00 to $2.00 and set an “underweight” rating for the company in a report on Wednesday, August 10th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $5.30.
The firm’s market cap is $115.30 million. The company’s 50-day moving average is $2.94 and its 200 day moving average is $5.32.
Walter Investment Management Corp. (NYSE:WAC) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.03 by $0.04. During the same quarter in the prior year, the company posted $0.65 EPS. The business had revenue of $187.50 million for the quarter, compared to analysts’ expectations of $284.14 million. The business’s revenue for the quarter was down 54.5% on a year-over-year basis. Analysts predict 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 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 (SEC). 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 approximately 0.20% of Walter Investment Management Corp. worth $1,099,000 as of its most recent filing with the SEC.
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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