Walter Investment Management Corp. (WAC) Stock Price Down 5%
Walter Investment Management Corp. (NYSE:WAC) dropped 5% during mid-day trading on Thursday . The company traded as low as $3.53 and last traded at $3.59, with a volume of 230,588 shares trading hands. The stock had previously closed at $3.78.
WAC has been the topic of a number of recent analyst reports. Wunderlich raised Walter Investment Management Corp. from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Zacks Investment Research raised Walter Investment Management Corp. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 6th. Compass Point reduced their price target 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. FBR & Co reduced their price target 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. Finally, Barclays PLC reduced their price target 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. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Walter Investment Management Corp. currently has a consensus rating of “Hold” and a consensus target price of $5.30.
The firm has a 50-day moving average of $3.03 and a 200 day moving average of $5.10. The stock’s market cap is $123.25 million.
Walter Investment Management Corp. (NYSE:WAC) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.04. The company had revenue of $187.50 million for the quarter, compared to analyst estimates of $284.14 million. During the same quarter in the prior year, the business earned $0.65 EPS. Walter Investment Management Corp.’s revenue was down 54.5% compared to the same quarter last year. On average, equities research analysts predict that Walter Investment Management Corp. will post ($0.46) earnings per share for the current fiscal year.
In related news, SVP Stuart Douglass Boyd sold 8,780 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $3.13, for a total transaction of $27,481.40. Following the transaction, the senior vice president now owns 30,569 shares in the company, valued at $95,680.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
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.