Shares of Walter Investment Management Corp. (NYSE:WAC) shot up 14.8% during trading on Friday . The stock traded as high as $0.53 and last traded at $0.50, with a volume of 843,131 shares trading hands. The stock had previously closed at $0.43.

Several brokerages recently commented on WAC. Zacks Investment Research downgraded shares of Walter Investment Management Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Wells Fargo & Company raised shares of Walter Investment Management Corp. from an “underperform” rating to a “market perform” rating and set a $1.25 price objective on the stock in a research report on Wednesday, May 10th.

The stock’s 50 day moving average price is $0.54 and its 200 day moving average price is $1.27. The company’s market cap is $18.12 million.

Large investors have recently modified their holdings of the stock. California Public Employees Retirement System raised its stake in Walter Investment Management Corp. by 1.8% in the first quarter. California Public Employees Retirement System now owns 613,800 shares of the financial services provider’s stock valued at $663,000 after buying an additional 10,800 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Walter Investment Management Corp. by 3.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 438,585 shares of the financial services provider’s stock valued at $474,000 after buying an additional 15,156 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Walter Investment Management Corp. during the second quarter valued at $252,000. Alta Fundamental Advisers LLC acquired a new position in shares of Walter Investment Management Corp. during the second quarter valued at $237,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Walter Investment Management Corp. by 1,383.6% in the second quarter. Goldman Sachs Group Inc. now owns 241,879 shares of the financial services provider’s stock valued at $229,000 after buying an additional 225,576 shares during the last quarter. Hedge funds and other institutional investors own 56.50% of the company’s stock.

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About Walter Investment Management Corp.

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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