BidaskClub lowered shares of IMPAC Mortgage Holdings, Inc (NYSEMKT:IMH) from a sell rating to a strong sell rating in a report released on Wednesday.

A number of other research firms also recently issued reports on IMH. ValuEngine downgraded shares of IMPAC Mortgage Holdings from a buy rating to a hold rating in a research note on Saturday, June 24th. JMP Securities decreased their target price on shares of IMPAC Mortgage Holdings from $20.00 to $18.00 and set an outperform rating for the company in a research note on Friday, August 25th.

Shares of IMPAC Mortgage Holdings (NYSEMKT IMH) opened at 12.90 on Wednesday. The firm has a market cap of $269.55 million, a price-to-earnings ratio of 4.92 and a beta of 0.91. The stock’s 50 day moving average price is $14.03 and its 200 day moving average price is $14.35. IMPAC Mortgage Holdings has a one year low of $12.04 and a one year high of $17.40.

IMPAC Mortgage Holdings (NYSEMKT:IMH) last released its quarterly earnings results on Tuesday, August 8th. The financial services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.96 by $0.97. IMPAC Mortgage Holdings had a return on equity of 9.53% and a net margin of 16.25%. The company had revenue of $39.63 million during the quarter. On average, equities analysts anticipate that IMPAC Mortgage Holdings will post $1.00 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the business. Municipal Employees Retirement System of Michigan increased its stake in shares of IMPAC Mortgage Holdings by 194.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 110,840 shares of the financial services provider’s stock valued at $1,677,000 after purchasing an additional 73,160 shares in the last quarter. State Street Corp increased its stake in shares of IMPAC Mortgage Holdings by 15.5% during the second quarter. State Street Corp now owns 136,890 shares of the financial services provider’s stock valued at $2,071,000 after purchasing an additional 18,349 shares in the last quarter. CQS Cayman LP bought a new position in shares of IMPAC Mortgage Holdings during the second quarter valued at approximately $563,000. Dimensional Fund Advisors LP increased its stake in shares of IMPAC Mortgage Holdings by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 42,253 shares of the financial services provider’s stock valued at $639,000 after purchasing an additional 1,753 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of IMPAC Mortgage Holdings by 6.9% during the second quarter. Vanguard Group Inc. now owns 456,707 shares of the financial services provider’s stock valued at $6,910,000 after purchasing an additional 29,543 shares in the last quarter.

About IMPAC Mortgage Holdings

Impac Mortgage Holdings, Inc is an independent residential mortgage lender. The Company operates through three segments: Mortgage Lending, Real Estate Services and Long-Term Mortgage Portfolio. It originates, sells and services conventional, conforming agency and Government insured residential mortgage loans.

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