Walter Investment Management Corp. (WAC) Shares Gap Up to $3.34
Walter Investment Management Corp. (NYSE:WAC) gapped up before the market opened on Tuesday . The stock had previously closed at $3.33, but opened at $3.34. Walter Investment Management Corp. shares last traded at $3.51, with a volume of 103,153 shares.
Several research firms have recently commented on WAC. Zacks Investment Research upgraded Walter Investment Management Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. Compass Point cut their price target on Walter Investment Management Corp. from $6.00 to $2.50 and set a “sell” rating for the company in a research note on Wednesday, May 4th. FBR & Co cut 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 cut their price target on Walter Investment Management Corp. from $5.00 to $2.00 and set an “underweight” rating for the company in a research note on Wednesday, August 10th. Finally, Wunderlich upgraded Walter Investment Management Corp. from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Walter Investment Management Corp. presently has an average rating of “Hold” and an average target price of $5.30.
The stock has a 50-day moving average of $3.02 and a 200-day moving average of $5.11. The firm’s market capitalization is $126.14 million.
Walter Investment Management Corp. (NYSE:WAC) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.04. The business had revenue of $187.50 million for the quarter, compared to analyst estimates of $284.14 million. The company’s revenue was down 54.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 EPS. On average, equities analysts expect that Walter Investment Management Corp. will post ($0.46) EPS for the current fiscal year.
In other Walter Investment Management Corp. news, SVP Stuart Douglass Boyd sold 8,780 shares of the business’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $3.13, for a total transaction of $27,481.40. Following the completion of the transaction, the senior vice president now owns 30,569 shares in the company, valued at approximately $95,680.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
A hedge fund recently raised its stake in Walter Investment Management Corp. stock. Bank of Montreal Can raised its position in 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 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.
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