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.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/08/walter-investment-management-corp-wac-shares-up-3-2.html
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.
Receive News & Ratings for Walter Investment Management Corp. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Walter Investment Management Corp. and related companies with MarketBeat.com’s FREE daily email newsletter.