Published On: Fri, Sep 9th, 2016

Walter Investment Management Corp. (WAC) Shares Up 3.2%

Walter Investment Management Corp. (NYSE:WAC) shares shot up 3.2% during mid-day trading on Thursday . The stock traded as high as $3.28 and last traded at $3.24, with a volume of 109,338 shares trading hands. The stock had previously closed at $3.14.
Several brokerages have issued reports on WAC. Barclays PLC dropped their target price on Walter Investment Management Corp. from $5.00 to $2.00 and set an “underweight” rating for the company in a research report on Wednesday, August 10th. Wunderlich upgraded Walter Investment Management Corp. from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Finally, Zacks Investment Research upgraded Walter Investment Management Corp. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 6th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $5.30.
The firm’s 50 day moving average is $3.06 and its 200-day moving average is $4.97. The company’s market capitalization is $117.46 million.

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Walter Investment Management Corp. (NYSE:WAC) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.07 earnings per share for the quarter, topping the 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 last year, the company earned $0.65 EPS. The firm’s revenue for the quarter was down 54.5% on a year-over-year basis. On average, analysts expect that Walter Investment Management Corp. will post ($0.46) EPS for the current fiscal year.
In related news, SVP Stuart Douglass Boyd sold 8,780 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 50.10% of the company’s stock.
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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