Walter Investment Management Corp. (WAC) Shares Down 5%
Walter Investment Management Corp. (NYSE:WAC) traded down 5% on Thursday . The stock 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.
Several equities research analysts have recently weighed in on the company. Barclays PLC decreased 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. 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. Finally, Wunderlich raised 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 issued a hold rating and one has given a buy rating to the company’s stock. Walter Investment Management Corp. presently has a consensus rating of “Hold” and a consensus target price of $5.30.
The company has a 50 day moving average of $3.05 and a 200-day moving average of $5.07. The firm’s market capitalization is $122.89 million.
Walter Investment Management Corp. (NYSE:WAC) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.04. During the same period last year, the firm earned $0.65 EPS. The firm had revenue of $187.50 million for the quarter, compared to the consensus estimate of $284.14 million. The company’s revenue for the quarter was down 54.5% on a year-over-year basis. Equities analysts forecast that Walter Investment Management Corp. will post ($0.46) EPS for the current fiscal year.
In other news, SVP Stuart Douglass Boyd sold 8,780 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $3.13, for a total value of $27,481.40. Following the completion of the sale, the senior vice president now owns 30,569 shares of the company’s stock, valued at approximately $95,680.97. The transaction was disclosed in a filing with the SEC, which is available at 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.
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