Walter Investment Management Corp. (WAC) Trading Up 4.5%
Shares of Walter Investment Management Corp. (NYSE:WAC) were up 4.5% during trading on Tuesday . The company 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.
A number of analysts recently commented on WAC shares. FBR & Co dropped their price target on Walter Investment Management Corp. from $7.00 to $3.00 and set an “underperform” rating for the company in a research note on Wednesday, May 4th. Barclays PLC decreased 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. Zacks Investment Research upgraded Walter Investment Management Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Compass Point decreased 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. Finally, Wunderlich upgraded Walter Investment Management Corp. from a “hold” rating to a “buy” rating in a report on Friday, August 5th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $5.30.
The company’s market capitalization is $112.77 million. The firm’s 50-day moving average is $2.96 and its 200 day moving average is $5.26.
Walter Investment Management Corp. (NYSE:WAC) last released its earnings results on Tuesday, August 9th. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The company had revenue of $187.50 million for the quarter, compared to the consensus estimate of $284.14 million. During the same period in the prior year, the firm posted $0.65 EPS. The business’s revenue for the quarter was down 54.5% compared to the same quarter last year. Analysts anticipate that Walter Investment Management Corp. will post ($0.46) EPS for the current fiscal year.
A hedge fund recently raised its stake in Walter Investment Management Corp. stock. Bank of Montreal Can increased its stake in shares of 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. 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 about 0.20% of Walter Investment Management Corp. worth $1,099,000 at the end of the most recent quarter.
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.